Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Housing Foundation - DISP has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Housing Foundation - DISP has received a U.S. Department of Housing and Urban Development direct loan under Section 223(f) 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. The Housing Foundation - DISP received no additional loans during the year. The balance of the loan outstanding (14.155) at June 30, 2022 consists of $3,025,423.
Title: Basis of Presentation
Accounting Policies: Expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Housing Foundation - DISP has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of The Housing Foundation - DISP, HUD Project No. 024-11057, 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 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 The Housing Foundation - DISP, it is not intended to and does not present the financial position, changes in net assets, or cash flows from The Housing Foundation - DISP.