Notes to SEFA
Title: Basis of Presentation and Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable and are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal and state awards includes the federal and state grant activity of Hebron House of Hospitality, Inc. d/b/a Hebron Housing Services and Affiliate and is presented on the accrual basis of accounting. The information in the schedule is presented in accordance with the Uniform Guidance.
Title: Oversight Agency
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable and are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Federal oversight agency for Hebron House of Hospitality, Inc. d/b/a Hebron Housing Services and Affiliate is U.S. Department of Housing and Urban Development.
Title: U.S. Department of Housing and Urban Development Loans
Accounting Policies: Expenditures reported on the schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and the State Single Audit Guidelines, wherein certain types of expenditures are not allowable and are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
620 Summit, Inc. has received a U.S. Department of Housing and Urban Development capital advance under Section 811 of the National Housing Act. Hebron Housing Services has received U.S. Department of Housing and urban Development loans from Waukesha County under the Home Investment Partnership Program. The loan balances outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. 620 Summit, Inc. and Hebron Housing Services received no additional loans during the year. The loan balance for 620 Summit, Inc. at December 31, 2022 was $1,288,700 and for Hebron Housing services was $714,757.