Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: (1) 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. (3) There were no sub-recipients for the year ended June 30, 2023. (4) The outstanding balance of loan and loan guarantee programs as of June 30, 2023 with continuing
compliance requirements which are reported as federal expenditures on the accompanying schedule of
expenditures was as follows: Assistance
Listing Outstanding Loan
Program Title Number Balance
Supportive Housing for the Elderly 14.157 $873,402
Supportive Housing for Persons with Disabilities 14.181 369,977
$ 1,243,379. (5) The Schedule does not include the federal award activity of Eastcare III, Inc. which had a separate audit
required by the Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: (2) The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of the Organization under programs of the federal government for the year ended June 30, 2023. 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or
cash flows of the Organization.