Notes to SEFA
Accounting Policies: BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES
The schedule of expenditures of federal awards includes the federal grant activity of The
Willows at Melvin Place, HUD Project No. 127-HD041 and is presented in
accordance with the requirements of Title 2 Code of Federal Regulations (CFR)
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards.
The Willows at Melvin Place has elected not to use the 10% de minimis indirect cost rate.
The Willows at Melvin Place has a capital advance included on the schedule of
expenditures of federal awards representing a loan balance of $1,088,200 at April 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The Willows at Melvin Place has elected not to use the 10% de minimis indirect cost rate.