Notes to SEFA
Title: BASIS OF PRESENTATION:
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES FOR FEDERAL AWARD EXPENDITURES:
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.
Pass-through entity identifying numbers are presented where available. In addition, the Organization did not pass-through any federal awards to subrecipients during the year ended December 31, 2023.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis indirect cost rate to recover indirect costs as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) reflects the expenditures of Neighborhood Housing Services of Hamilton, Inc. and NHS II of Hamilton, Inc. (the “Organization”) under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 Organization, it is not intended to, and does not, present the financial position, activities and cash flows of the Organization for the year ended December 31, 2023.