Notes to SEFA
Title: NOTE C - SUB-RECIPIENTS:
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant
activity of the Southwest Housing Compliance Corporation and is presented on the accrual
basis of accounting. The information on 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 . Therefore, the
amounts presented in this schedule may differ from the amounts presented in, or used in the
preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Southwest Housing Compliance Corporation did not elect to use the 10-percent de minimis
indirect cost rate.
During the year ended March 31, 2023, SHCC had no sub-recipients.
Title: NOTE D - NONCASH ASSISTANCE AND OTHER:
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant
activity of the Southwest Housing Compliance Corporation and is presented on the accrual
basis of accounting. The information on 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 . Therefore, the
amounts presented in this schedule may differ from the amounts presented in, or used in the
preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Southwest Housing Compliance Corporation did not elect to use the 10-percent de minimis
indirect cost rate.
SHCC did not receive any noncash assistance, federal loans, or federally funded insurance
during the year ended March 31, 2023.