Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Habitat has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Habitat under programs of the federal government and is presented on the accrual basis of accounting for the year ended June 30, 2023. The amounts reported as federal expenditures were obtained from Habitat’s records. The information in the 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Habitat, it is not intended to and does not present the financial position, changes net assets or cash flows of Habitat. As a result, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
For purposes of the Schedule, federal awards include all grants, contracts, and similar agreements entered into directly between Habitat and agencies and departments of the federal government.
All of Habitat’s federal awards were in the form of cash assistance for the year ended June 30, 2023.
The Habitat had no federally funded insurance programs or loan guarantees during the year ended June 30, 2023.
Title: Summary of Significant Accounting Principles
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Habitat has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Habitat has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Habitat has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
During the year ended June 30, 2023, Habitat did not provide any awards to subrecipients.
Title: Commitments and Cotingencies
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Costs Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Habitat has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Habitat receives a portion of its revenue from U.S. Government funded contracts and grants, which are subject to audit. The final determination of amounts received under these programs is generally based upon allowable costs reported to and subject to audit by supporting agencies. A contingency exists for Habitat to refund any amounts received in excess of allowable costs. Management believes that disallowed costs, if any, will be immaterial to the financial statements.