Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the ?Schedule?) includes thefederal grant activity of Congregational Retirement Homes II, Inc. and is presented on the accrualbasis of accounting. The information in the Schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.Therefore, some amounts presented in the Schedule may differ from amounts presented in, orused in the preparation of the basic financial statements.Summary of significant policiesExpenditures reported in the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the OMB Circular A-122,Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are notallowed. The Corporation has not elected to use the 10-percent de minimis indirect cost rateallowed under Uniform Guidance. Catalogue of Federal Domestic Assistance numbers (?CFDANo.?) are provided when available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.