Notes to SEFA
Title: Note 4: Loan Program
Accounting Policies: Note 1: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Project Houseworks under programs of the federal government for the year ended December 31, 2022. 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 Project Houseworks, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Project Houseworks. Note 2: Summary of Significant 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Project Houseworks has elected not to use the 10-percent de minimis indirect cost rate allowed under the UniformGuidance.
The Home Investment Partnerships Program funding listed subsequently are passed through the City of Omaha. The balances and transactions related to this program is included in Project Houseworks basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at December 31, 2022 consists of: Assistance Listing Number - 14.239 Program Name - Home Investment Partnerships Program Outstanding Balance at December 31, 2022 - $951,150