Notes to SEFA
Title: NOTE 1 - 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.
De Minimis Rate Used: N
Rate Explanation: The grant agreements NHS has signed contain specified dollar amounts or percentages of allowable indirect costs.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Neighborhood Housing Services of Baltimore, Inc. (NHS) under programs of the federal government for the year ended August 31, 2023. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Because the schedule presents only a selected portion of the operations, it is not intended to and does not present the statement of financial position, changes in net assets, or cash flows of NHS.
Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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.
De Minimis Rate Used: N
Rate Explanation: The grant agreements NHS has signed contain specified dollar amounts or percentages of allowable indirect costs.
Basis of Accounting - 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. Indirect Costs - Neighborhood Housing Services of Baltimore, Inc. (NHS) has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. The grant agreements NHS has signed contain specified dollar amounts or percentages of allowable indirect costs.
Title: NOTE 3 - REVOLVING LOAN FUNDS
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.
De Minimis Rate Used: N
Rate Explanation: The grant agreements NHS has signed contain specified dollar amounts or percentages of allowable indirect costs.
See the Notes to the SEFA for chart/table