Notes to SEFA
Title: NOTE A - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: San Francisco Network Ministries Housing Corporation and San Francisco SafeHouse, Inc. has elected to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
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 San Francisco Network Ministries Housing Corporation and San Francisco SafeHouse,
Inc.; it is not intended to and does not present the financial position, changes in net assets, or cash flows of
San Francisco Network Ministries Housing Corporation and San Francisco SafeHouse, Inc.
Title: NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: San Francisco Network Ministries Housing Corporation and San Francisco SafeHouse, Inc. has elected to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
San Francisco Network Ministries Housing Corporation and San Francisco SafeHouse, Inc. has elected to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE C – LOAN PROGRAM BALANCES OUTSTANDING
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Guidance, where certain types of expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: San Francisco Network Ministries Housing Corporation and San Francisco SafeHouse, Inc. has elected to use
the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Loan balance outstanding as of June 30, 2023 is as follows:
Community Development Block Grant Program Loan $ 90,570