Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal expenditures activity of Concord Consumer Housing Cooperative, HUD Project Number M128L000038., 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 basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: During the year ended March 31, 2023, the Cooperative did not receive any other Federal assistance such as on-cash assistance, insurance, loans or loan guarantees.