Notes to SEFA
Title: LOAN
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (THE SCHEDULE) INCLUDES THE FEDERAL GRANT ACTIVITY OF FWH, INC. UNDER PROGRAMS OF THE FEDERAL GOVERNMENT FOR THE YEAR ENDED JUNE 30, 2023. THE INFORMATION IS PRESENTED IN ACCORDANCE WITH THE REQUIREMENTS OF TITLE 2 U.S. CODE OF FEDERAL REGULATIONS PART 200, UNIFORM GUIDANCE. BECAUSE THE SCHEDULE PRESENTS ONLY A SELECTED PORTION OF THE OPERATIONS OF FWHD, INC. IT IS NOT INTENDED TO AND DOES NOT PRESENT THE FINANCIAL POSITION, CHANGES IN NET ASSETS OR CASH FLOWS OF FWHD, INC. EXPENDITURES 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 EXPENSES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT. PASS THROUGH ENTITY IDENTIFYING NUMBERS ARE PRESENTED WHERE AVAILABLE. THERE WERE NO PASS THROUGH GRANTS IN THE CURRENT YEAR.
De Minimis Rate Used: N
Rate Explanation: FWH DID NOT ELECT TO USE THE 10% DEMINIMUS INDIRECT COST RATE.
FWHD, INC. HAS RECEIVED A U.S. HUD DIRECT LOAN UNDER SECTION 811 OF THE NATIONAL HOUSING ACT. THE LOAN BALANCE OUTSTANDING AT THE BEGINNING OF THE YEAR IS INCLUDED IN THE FEDERAL EXPENDITURES PRESENTED IN THE SCHEDULE. FWHD, INC. HAS RECEIVED NO ADDITIONAL LOANS DURING THE YEAR. THE BALANCE IN THE LOAN OUSTANDING AT JUNE 30, 2023 IS $3,269,460.