Notes to SEFA
Accounting Policies: NOTE A Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal award activity of CapitolPlaza Harmony Housing LLC and is presented on the accrual basis of accounting. The information in thisschedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part200, 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 CapitolPlaza Harmony Housing LLC, it is not intended to and does not present the financial position, changes innet assets, or cash flows of Capitol Plaza Harmony Housing LLC.NOTE B Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Capitol Plaza Harmony Housing LLChas elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.