Notes to SEFA
Title: HUD Capital Advance
Accounting Policies: USE FOR PART II FEDERAL AWARDS NOTE 1 BASIS OF PRESENTATION - The accompanying schedule of expenditures of federal awards includes the federal grant activity of Houston Help, Inc., and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operations of Houston Help, Inc., it is not intended to and does not present the financial position, activities and changes in net assets or cash flows of Houston Help, Inc. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported in the schedule of expenditures of federal awards 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 reimbursements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
HUD CAPITAL ADVANCE - The Corporation received a loan under HUD's Housing Opportunities for Persons with AIDS Program in 1998. The loan balance at the beginning of the year is included in the schedule of expenditures of federal awards The Corporation has received no additional funds during the year. The loan balance is reported as net assets with donor restrictions in the statement of financial position.
Title: Note Payable HUD HOME Program
Accounting Policies: USE FOR PART II FEDERAL AWARDS NOTE 1 BASIS OF PRESENTATION - The accompanying schedule of expenditures of federal awards includes the federal grant activity of Houston Help, Inc., and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operations of Houston Help, Inc., it is not intended to and does not present the financial position, activities and changes in net assets or cash flows of Houston Help, Inc. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported in the schedule of expenditures of federal awards 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 reimbursements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
NOTE PAYABLE - HUD HOME PROGRAM - The Corporation received a loan under HUD's HOME Investment Partnerships (HOME) Program in 1998. The loan balance at the beginning of the year is included in the schedule of expenditures of federal awards. The Corporation has received no additional funds during the year but has accrued related interest and deferred charges. These items are reported under long term liabilities in the statement of financial position. The combined balance of the loan, deferred charges and accrued interest as of June 30, 2022 is $2,874,469.