Notes to SEFA
Title: Note 1. General Information
Accounting Policies: Note 1. General Information
The accompanying Schedules of Expenditures of Federal Awards and State Financial Assistance present the activities in all the federal and state programs of Joseph Yancey Jr. Housing Development Fund Corporation. All financial assistance received directly from federal and state agencies as well as financial assistance passed through other governmental agencies are included in the schedules.
Note 2. Basis of Accounting
The accompanying schedules are presented on the accrual basis of accounting. The amounts reported in these schedules as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on a cash or modified accrual basis of accounting.
Note 3. Non-Cash Federal Assistance
The Corporation did not provide any loan or loan guarantees in the year ended December 31, 2022.
Note 4. Sub-Recipients
Of the federal and state expenditures presented in this schedule, the Corporation did not provide federal or state awards to sub-recipients.
Note 5. Indirect Cost Rate
The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee elected not to use the deminimus indirect cost rate
The accompanying Schedules of Expenditures of Federal Awards and State Financial Assistance present the activities in all the federal and state programs of Joseph Yancey Jr. Housing Development Fund Corporation. All financial assistance received directly from federal and state agencies as well as financial assistance passed through other governmental agencies are included in the schedules.
Title: Note 2. Basis of Accounting
Accounting Policies: Note 1. General Information
The accompanying Schedules of Expenditures of Federal Awards and State Financial Assistance present the activities in all the federal and state programs of Joseph Yancey Jr. Housing Development Fund Corporation. All financial assistance received directly from federal and state agencies as well as financial assistance passed through other governmental agencies are included in the schedules.
Note 2. Basis of Accounting
The accompanying schedules are presented on the accrual basis of accounting. The amounts reported in these schedules as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on a cash or modified accrual basis of accounting.
Note 3. Non-Cash Federal Assistance
The Corporation did not provide any loan or loan guarantees in the year ended December 31, 2022.
Note 4. Sub-Recipients
Of the federal and state expenditures presented in this schedule, the Corporation did not provide federal or state awards to sub-recipients.
Note 5. Indirect Cost Rate
The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee elected not to use the deminimus indirect cost rate
The accompanying schedules are presented on the accrual basis of accounting. The amounts reported in these schedules as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on a cash or modified accrual basis of accounting.
Title: Note 3. Non-Cash Federal Assistance
Accounting Policies: Note 1. General Information
The accompanying Schedules of Expenditures of Federal Awards and State Financial Assistance present the activities in all the federal and state programs of Joseph Yancey Jr. Housing Development Fund Corporation. All financial assistance received directly from federal and state agencies as well as financial assistance passed through other governmental agencies are included in the schedules.
Note 2. Basis of Accounting
The accompanying schedules are presented on the accrual basis of accounting. The amounts reported in these schedules as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on a cash or modified accrual basis of accounting.
Note 3. Non-Cash Federal Assistance
The Corporation did not provide any loan or loan guarantees in the year ended December 31, 2022.
Note 4. Sub-Recipients
Of the federal and state expenditures presented in this schedule, the Corporation did not provide federal or state awards to sub-recipients.
Note 5. Indirect Cost Rate
The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee elected not to use the deminimus indirect cost rate
The Corporation did not provide any loan or loan guarantees in the year ended December 31, 2022.
Title: Note 4. Sub-Recipients
Accounting Policies: Note 1. General Information
The accompanying Schedules of Expenditures of Federal Awards and State Financial Assistance present the activities in all the federal and state programs of Joseph Yancey Jr. Housing Development Fund Corporation. All financial assistance received directly from federal and state agencies as well as financial assistance passed through other governmental agencies are included in the schedules.
Note 2. Basis of Accounting
The accompanying schedules are presented on the accrual basis of accounting. The amounts reported in these schedules as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on a cash or modified accrual basis of accounting.
Note 3. Non-Cash Federal Assistance
The Corporation did not provide any loan or loan guarantees in the year ended December 31, 2022.
Note 4. Sub-Recipients
Of the federal and state expenditures presented in this schedule, the Corporation did not provide federal or state awards to sub-recipients.
Note 5. Indirect Cost Rate
The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee elected not to use the deminimus indirect cost rate
Of the federal and state expenditures presented in this schedule, the Corporation did not provide federal or state awards to sub-recipients.
Title: Note 5. Indirect Cost Rate
Accounting Policies: Note 1. General Information
The accompanying Schedules of Expenditures of Federal Awards and State Financial Assistance present the activities in all the federal and state programs of Joseph Yancey Jr. Housing Development Fund Corporation. All financial assistance received directly from federal and state agencies as well as financial assistance passed through other governmental agencies are included in the schedules.
Note 2. Basis of Accounting
The accompanying schedules are presented on the accrual basis of accounting. The amounts reported in these schedules as expenditures may differ from certain financial reports submitted to federal and state funding agencies due to those reports being submitted on a cash or modified accrual basis of accounting.
Note 3. Non-Cash Federal Assistance
The Corporation did not provide any loan or loan guarantees in the year ended December 31, 2022.
Note 4. Sub-Recipients
Of the federal and state expenditures presented in this schedule, the Corporation did not provide federal or state awards to sub-recipients.
Note 5. Indirect Cost Rate
The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee elected not to use the deminimus indirect cost rate
The Corporation has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.