Notes to SEFA
Title: Reconciliation of Schedule of Expenditures of Federal Awards to Financial Statements
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the Federal award activity of HOT under programs of the United States Government for the year ended December 31, 2021. Information on the 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). The Schedule presents only a selected portion of the operations of HOT; accordingly, it is not intended to and does not present the financial position, changes in net assets or cash flows of HOT.
Expenditures 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: HOT has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
See the Notes to the SEFA for table.