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 principals contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Reality House West has elected not to
use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Reality House West has elected not to
use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Reality
House West, and is presented on the accrual basis of accounting. 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 Reality House West,
it is not intended to and does not present the financial position, changes in net assets, or cash flows of
Reality House West.
Title: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 principals contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Reality House West has elected not to
use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Reality House West has elected not to
use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principals contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Reality House West has elected not to
use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE C – LOAN PROGRAM BALANCES OUTSTANDING
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
are recognized following the cost principals contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Reality House West has elected not to
use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Reality House West has elected not to
use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Loan balances outstanding as of June 30, 2023 are as follows:
Community Development Block Grant Program Loan $1,277,394
Community Development Block Grant Program Loan $120,000