Audit 17128

Accounting Policies: NOTE 1. BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards presents the activity of the federal financial assistance programs administered by Neighborhood Housing Services of South Buffalo, Inc., an entity as defined in Note 1 to the Organizations basic financial statements. 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). Federal awards received directly from federal agencies as well as federal awards passed through from other government agencies are included in the schedule. Because the schedule presents only a selected portion of the operations of the Organization, it is not intended and does not present the financial position, changes in net position, or cash flows of the Organization.NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe accompanying schedule of expenditures of federal awards is presented using the accrual basis of accounting. The amounts reported as federal expenditures were obtained from the Organizations financial reporting system, which is the source of the Organizations basic financial statements. Such expenditures are recognized following the cost principles contained in the uniform guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.NOTE 3. INDIRECT COST RATENeighborhood Housing Services of South Buffalo, Inc. has elected to not use the 10% de minimus indirect cost rate allowed under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.