Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The schedule of expenditures of federal awards is prepared 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.
The Project has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Project did not pass-through any federal funds to a subrecipient in 2023.
De Minimis Rate Used: N
Rate Explanation: The Project has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Independent Housing I, Inc., HUD Project No. 023-EH-020-Independence House. 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 Independent Housing, I, Inc., HUD Project No. 023-EH-020-Independence House, it is not intended to and does not present the financial position, change in net assets, or cash flows of Independent Housing, I, Inc., HUD Project No. 023-EH-020-Independence House.
Title: Summary of Significant Accounting Policies
Accounting Policies: The schedule of expenditures of federal awards is prepared 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.
The Project has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Project did not pass-through any federal funds to a subrecipient in 2023.
De Minimis Rate Used: N
Rate Explanation: The Project has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The schedule of expenditures of federal awards is prepared 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.
The Project has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Project did not pass-through any federal funds to a subrecipient in 2023.