Notes to SEFA
Title: NOTE A–BASIS OF PRESENTATION
Accounting Policies: NOTE B–SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on 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 not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Booker T. Senior Village, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes an outstanding section 202 capital advance of $1,610,900 for Booker T. Senior Village, Inc., HUD Project No. 064-EE124, and is presented on the accrual basis of accounting. The schedule also includes section 202-housing assistance payments $69,910. 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 presents only a selected portion of the operations of Booker T. Senior Village, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Booker T. Senior Village, Inc
Title: NOTE B–SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE B–SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on 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 not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Booker T. Senior Village, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
Expenditures reported on 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 not allowable or are limited as to reimbursement.
Title: NOTE C–INDIRECT COST RATE
Accounting Policies: NOTE B–SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on 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 not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: Booker T. Senior Village, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.
Booker T. Senior Village, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under Uniform Guidance.