Notes to SEFA
Accounting Policies: This schedule includes the federal grant activity of Clare Housing under programs of the federal government for the year ended December 31, 2022. The information presented 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 Clare Housing, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Clare Housing.
De Minimis Rate Used: N
Rate Explanation: Clare Housings federal awards are not based on eligible costs incurred. Accordingly, the Corporation has not made an election related to use of the 10% de minimis indirect cost rate described in the Uniform Guidance.