Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Perkins Place, Inc. (the “Organization”) 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”). Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
To finance construction of the ten-unit apartment building in Bardstown, Kentucky, the Organization obtained a capital advance commitment from HUD under Section 811 of the National Affordable Housing Act. The federal expenditures amount represents advances received through June 30, 2025. There were no additional advances received during the year ended June 30, 2025.
The Organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.