Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Metropolitan Alternative Housing Corporation IV and is presented on the accrual basis of accounting. 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 the Project, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Project.
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, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Metropolitan Alternate Housing Corporation IV has elected not to use the 10% de minimis indirect cost rate allowed by the Uniform Guidance.
Metropolitan Alternative Housing Corporation IV has received a capital advance under Section 811 Supportive Housing for Persons with Disabilities. The capital advance at the beginning of the year is included in the federal expenditures presented in the Schedule. Metropolitan Alternative Housing Corporation IV received no additional capital advances during the year. The balance of the capital advance at September 30, 2025 is $1,393,800.
Metropolitan Alternative Housing Corporation IV did not pass through any awards to sub-recipients from its federal programs during the year ended September 30, 2025.