Notes to SEFA
Title: Section 202 Supportive Housing for the Elderly
Accounting Policies: The Schedule of Expenditures of Federal Awards includes the federal grant activity of Friendship House of Grayson, Inc., Project No. 083-EE065-NP-WAH, 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 ("CFR") Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this Schedule may differ from amounts presented in or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Project has decided not to utilize the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
To finance construction of the 52-unit apartment building in Grayson, Kentucky, the Project obtained a capital advance commitment from HUD under Section 202. The federal expenditures amount represents advances received through December 31, 2022.