Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Project Support Housing II 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).
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Project Support Housing II has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Project Support Housing II has received a U.S. Department of Housing and Urban Development capital advance under Section 202 of the National Housing Act. The balance of $2,010,132 at the beginning of the year is included in the federal expenditures presented in the Schedule.