Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of St Johns Two - Winchester Court, HUD Project No. 171-11075 under programs of the federal government for the year ended September 30, 2025. 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 of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of St Johns II - Winchester Court, it is not intended to and does not present the financial position, change in net assets, or cash flows of St Johns II - Winchester Court.
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.
St Johns Two - Winchester Court has elected not to use the 15 percent de minimis indirect cost rate as allowed under the Uniform Guidance.