Notes to SEFA
Title: NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: See NOTE A to the SEFA
De Minimis Rate Used: N
Rate Explanation: Not Applicable
Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE B - BASIS OF PRESENTATION
Accounting Policies: See NOTE A to the SEFA
De Minimis Rate Used: N
Rate Explanation: Not Applicable
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Habitat for Humanity East Central Ohio (Habitat) 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 Habitat, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: NOTE C - INDIRECT COST RATE
Accounting Policies: See NOTE A to the SEFA
De Minimis Rate Used: N
Rate Explanation: Not Applicable
Habitat has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.