Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Vintage Hills Cooperative of Indianola HUD Project No. 074-23008 for the year ended December 31, 2025. 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Vintage Hills Cooperative of Indianola, it is not intended to and does not present the financial position, activities, or cash flows of Vintage Hills Cooperative of Indianola.
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 allowed or are limited as to reimbursement, when applicable.
The Cooperative has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The outstanding balance of the federally insured mortgage at December 31, 2025 was $4,010,451.