Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Over-The-Rhine Community Housing has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - The Organization was approved by the U.S. Department of Housing and Urban Development to receive a loan totaling $1,785,399 to build and rehabilitate properties in the Cincinnati area to provide affordable housing opportunities for low income individuals and families. The amount listed is outstanding at December 31, 2022.
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Over-The-Rhine Community Housing has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Over-The-Rhine Community Housing under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Over-The-Rhine Community Housing, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Over-The-Rhine Community Housing.