Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: NOTE A - BASIS OF PRESENTATION - The schedule of expenditures of federal awards includes the federal grant activity of Center Township Elderly Housing, Inc., HUD Project No. 033-EE055 and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The property has elected to not use the 10% de minimis indirect cost rate.
The schedule of expenditures of federal awards includes the federal grant activity of Center Township Elderly Housing, Inc., HUD Project No. 033-EE055 and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the financial statements.
Title: NOTE B - DE MINIMIS INDIRECT COST RATE
Accounting Policies: NOTE A - BASIS OF PRESENTATION - The schedule of expenditures of federal awards includes the federal grant activity of Center Township Elderly Housing, Inc., HUD Project No. 033-EE055 and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The property has elected to not use the 10% de minimis indirect cost rate.
The property has elected to not use the 10% de minimis indirect cost rate.
Title: NOTE C - LOAN/LOAN GUARANTEE OUTSTANDING BALANCES
Accounting Policies: NOTE A - BASIS OF PRESENTATION - The schedule of expenditures of federal awards includes the federal grant activity of Center Township Elderly Housing, Inc., HUD Project No. 033-EE055 and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirement of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The property has elected to not use the 10% de minimis indirect cost rate.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances oustanding at the end of the audit period were $3,390,200.