Notes to SEFA
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 the Project, it is not intended to and does not present the Project's financial position, changes in net assets, or cash flows. Because the Schedule presents only a selected portion of the operations of the Project, it is not intended to and does not present the Project's
(a) 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.
(b) New Road Village Apartments has elected not to use the 10 percent de minimus indirect cost rate
as allowed under the Uniform Guidance.
(c) The outstanding balance of loan and loan guarantee programs at December 31, 2024 with
continuing compliance requirements which are reported as federal expenditures on the accompanying
schedule of expenditures of Federal Awards was $2,196,719.