Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Devitt House, Inc. and ispresented on the accrual basis of accounting. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of the Project, it is not intended to and does not present the financial position, changes in net assets, or cash flowsof the Project.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
RURAL RENTAL HOUSING LOANS (10.415) - Balances outstanding at the end of the audit period were 1155061.
Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Devitt House, Inc. and ispresented on the accrual basis of accounting. The information in this schedule is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of the Project, it is not intended to and does not present the financial position, changes in net assets, or cash flowsof the Project.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization did not have any sub-recipients.