Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reflected in 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 either not allowable or limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: TLR Realty has elected to not use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards (the Schedule) presents the Federal award activity of TLR Realty, HUD Project No. 016-HD-025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule furnishes only a selected portion of the operations of TLR Realty, it is not intended to and does not present the financial position, activities, or cash flows of TLR Realty.