Notes to SEFA
Title: Note 1: Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) reflects the federal grant activity of Holy Redeemer Senior Citizens Facility, HUD Project No. 042-EE017-WAH, under programs of the federal government for the year ended December 31, 2022 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.
De Minimis Rate Used: N
Rate Explanation: The Project did not elect to use the 10 percent de minimis indirect cost rate to recover indirect cost as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) reflects the federal grant activity of Holy Redeemer Senior Citizens Facility, HUD Project No. 042-EE017-WAH, under programs of the federal government for the year ended December 31, 2022 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.
Title: Note 2: Indirect Cost Rate
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) reflects the federal grant activity of Holy Redeemer Senior Citizens Facility, HUD Project No. 042-EE017-WAH, under programs of the federal government for the year ended December 31, 2022 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.
De Minimis Rate Used: N
Rate Explanation: The Project did not elect to use the 10 percent de minimis indirect cost rate to recover indirect cost as allowed under the Uniform Guidance.
The Project did not elect to use the 10 percent de minimis indirect cost rate to recover indirect cost as allowed under the Uniform Guidance.
Title: Note 3: U.S. Department of Housing and Urban Development Loan Program
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) reflects the federal grant activity of Holy Redeemer Senior Citizens Facility, HUD Project No. 042-EE017-WAH, under programs of the federal government for the year ended December 31, 2022 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.
De Minimis Rate Used: N
Rate Explanation: The Project did not elect to use the 10 percent de minimis indirect cost rate to recover indirect cost as allowed under the Uniform Guidance.
The Project has received a U.S. Department of Housing and Urban Development capital advance under Section 202 of the National Housing Act Capital Advance Program. The capital advance outstanding of $2,875,800 as of December 31, 2022 is included in the schedule of expenditures of federal awards. The Project received no additional loans during the year.