Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of The Salvation Army Residences, Inc. dba Silvercrest Residence - Phoenix HUD Project 122-EH098-WAH-L8 and is prepared on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements Title 2 U.S. Code of Federal Regulations (CFR) 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.