Notes to SEFA
Title: NOTE 3 ‐‐ 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Greater Charlottesville Habitat for Humanity, Inc. and Subsidiaries has not elected to use the 10% de minimis indirect
cost rate allowed under Section 200.414 of the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of
Greater Charlottesville Habitat for Humanity, Inc. and Subsidiaries under programs of the Federal government for the
year ended June 30, 2022. 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, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the
operations of Greater Charlottesville Habitat for Humanity, Inc. and Subsidiaries, it is not intended to and does not
present the financial position and changes in net position of Greater Charlottesville Habitat for Humanity, Inc. and
Subsidiaries.