Notes to SEFA
Title: Note A – Basis of Presentation
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: N
Rate Explanation: Richmond Metropolitan Habitat for Humanity, Inc. and Subsidiary has elected to not use the
10% de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Richmond Metropolitan Habitat for Humanity, Inc. and Subsidiary (the “Organization”). The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of Richmond Metropolitan Habitat for Humanity, Inc. and Subsidiary, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Richmond Metropolitan Habitat for Humanity, Inc. and Subsidiary.
Title: Note B – Summary of Significant Accounting Policies
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: N
Rate Explanation: Richmond Metropolitan Habitat for Humanity, Inc. and Subsidiary has elected to not use the
10% de minimis indirect cost rate.
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: 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: N
Rate Explanation: Richmond Metropolitan Habitat for Humanity, Inc. and Subsidiary has elected to not use the
10% de minimis indirect cost rate.
Richmond Metropolitan Habitat for Humanity, Inc. and Subsidiary has elected to not use the 10% de minimis indirect cost rate.