Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Montgomery Park I United Methodist Housing Corporation, HUD Project No. 051-EE089, 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) and/or OMB Circular A-122, Cost Principals for Non-Profit Organizations, as applicable. Because the Schedule presents only a selected portion of the operations of Montgomery Park I United Methodist Housing Corporation, it is not intended to and does not present the financial position, change in net assets, or cash flows of Montgomery Park I United Methodist Housing Corporation.
None of the expenditures reported on the Schedule were passed through to subrecipients.