Notes to SEFA
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Allen House Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Allen House Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimus rate as covered in Section 200.414 in the Uniform Guidance.
The schedule of expenditures of federal awards (the Schedule) includes the grant activity of Allen House Inc. 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 Allen House, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Allen House Inc.
Title: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAM
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Allen House Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Allen House Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimus rate as covered in Section 200.414 in the Uniform Guidance.
Allen House Inc. has received a U.S. Department of Housing and Urban Development direct loan under Section 202 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 above. Allen House Inc. received no additional loans during the year.
Title: RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Allen House Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Allen House Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimus rate as covered in Section 200.414 in the Uniform Guidance.
Federal expenditures are reported on the statement of activities as operating costs before depreciation. The expenditures reported in the basic financial statements may differ from the expenditures reported in the Schedule due to program expenditures exceeding grant or contract budget limitations or agency matching or in-kind contributions which are not included as federal awards.