Notes to SEFA
Title: Note 1
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting and 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass through entity identifyng numbers are presented where available
De Minimis Rate Used: Y
Rate Explanation: Safe Harbor has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Safe Harbor, under programs of the federal government for the year ended June 30, 2023. 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 Safe Harbor, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Safe Harbor.
Title: Note 2
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting and 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass through entity identifyng numbers are presented where available
De Minimis Rate Used: Y
Rate Explanation: Safe Harbor has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
(1) 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. (2) Pass-through entity identifying numbers are presented where available.
Title: Note 3
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting and 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass through entity identifyng numbers are presented where available
De Minimis Rate Used: Y
Rate Explanation: Safe Harbor has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Safe Harbor has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Note 4
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting and 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass through entity identifyng numbers are presented where available
De Minimis Rate Used: Y
Rate Explanation: Safe Harbor has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Safe Harbor does not have any subrecipients.
Title: Note 5
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting and 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass through entity identifyng numbers are presented where available
De Minimis Rate Used: Y
Rate Explanation: Safe Harbor has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
At June 30, 2023 Safe Harbor had no outstanding loan balances requiring continuing disclosure.