Notes to SEFA
Accounting Policies: 1. Reporting Entity Family Housing Advisory Services, Inc., (the Organization) provides education, counseling, dispute resolution, and advisory services to clients in the Omaha, Nebraska metropolitan area to aid in locating, acquiring, and maintaining adequate housing and strengthening the community. The Organization is affiliated with the United Way of the Midlands and receives government and private funding. 2. Basis of Accounting The schedule of expenditures of federal awards is presented on the accrual basis of accounting. 3. Basis of Presentation The accompanying schedule presents expenditures paid for each federal award program in accordance with the Office of Management and Budget (OMB) Title 2 U.S. Code of Federal Regulations part 200, Uniform Administrative equirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Federal programs are reported as presented in the Catalog of Federal Domestic Assistance (CFDA), whenever possible. 4. Contingencies During the normal course of usiness, the Organization receives funds from the United State Government for program services. Substantially all of these funds are subject to future audit by various federal and state agencies, however, it is management’s opinion that resulting adjustments, if ny, would not have a material effect upon the accompanying financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.