Notes to SEFA
Title: Capital Advance
Accounting Policies: The schedule of expenditures of federal awards 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented. The Organization does not use the 10% de minimis election.
The amount reported for Assistance Listing Number 14.181 and No. 14.239 in expenditures relate to U.S. Department of Housing and Urban Development - Supportive Housing for Persons with Disabilities - Section 811 Capital Advance ($1,129,080) and Home Investment Partnerships Program ($399,153). The ending balances of the capital advances are $1,129,080 and $399,153, respectively, at December 31, 2022.