Title: Note A - Basis of Presentation
Accounting Policies: Basis of Presentation, Type A Program Threshold, Major Program, Self-Help Homeownership Opportunity Program, Loan Balances
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Habitat for Humanity of Omaha and is presented on the accrual basis of accounting. 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 of Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the financial statements. The entity has elected to use the 10% de minimis indirect cost rate, as allowed under the Uniform Guidance.
Title: Note B - Type A Program Threshold
Accounting Policies: Basis of Presentation, Type A Program Threshold, Major Program, Self-Help Homeownership Opportunity Program, Loan Balances
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The threshold of Type A and Type B programs was $750,000 for the year ended December 31, 2023.
Title: Note C - Major Program
Accounting Policies: Basis of Presentation, Type A Program Threshold, Major Program, Self-Help Homeownership Opportunity Program, Loan Balances
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
CFDA Number Program Name 21.027 Coronavirus State and Local Fiscal Recovery Funds
Title: Note D - Self-Help Homeownership Opportunity Program
Accounting Policies: Basis of Presentation, Type A Program Threshold, Major Program, Self-Help Homeownership Opportunity Program, Loan Balances
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
The United States Department of Housing and Urban Development’s (HUD) Self-Help Homeownership Opportunity Program (SHOP) grants and loans were passed through to the Organization by Habitat for Humanity International, Inc. (Habitat International). The SHOP Agreement stipulates that 75% of each sub-grant from Habitat International to the affiliate is in the form of a grant and 25% is in the form of a loan. The awards provided under ALN (formerly CFDA) 14.247 for SHOP were as follows for the year ended December 31, 2023:
Pass-Through Grantor Identifying Number Expenditures
Habitat International SHOP 2013 (203014)- Existing Loans $ 2,772*
Habitat International SHOP 2014 (211035)- Existing Loans 3,653*
Habitat International SHOP 2015 (221001)- Existing Loans 9,768*
Habitat International SHOP 2015 (222007)- Existing Loans 8,249*
Habitat International SHOP 2016 (231040)- Existing Loans 33,130*
Habitat International SHOP 2016 (232017)- Existing Loans 37,462*
Habitat International SHOP 2017 (241032)- Existing Loans 56,250*
Habitat International SHOP 2018 (251026)- Existing Loans 10,058*
Habitat International SHOP 2018 (252011)- Existing Loans 16,763*
Habitat International SHOP 2019 (261015)- Existing Loans 27,500*
Habitat International SHOP 2019 (262004)- Existing Loans 6,875*
$ 212,480
*Represents the balance of a loan from a previous year that the federal government imposes the continuing compliance requirements totaling $212,480.
Title: Note E - Loan Balances
Accounting Policies: Basis of Presentation, Type A Program Threshold, Major Program, Self-Help Homeownership Opportunity Program, Loan Balances
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
CFDA Number Identifying Number
Balance at
January 1,
2023
New
Loans Payments
Balance at
December
31, 2023
14.247 SHOP 2013 - Loans $ 2,772 - $ (2,772) $ -
14.247 SHOP 2014 - Loans 3,653 - (3,653) -
14.247 SHOP 2015 - Loans 9,768 - (6,864) 2,904
14.247 SHOP 2015 - Loans 8,249 - (4,932) 3,317
14.247 SHOP 2016 - Loans 33,130 - (16,560) 16,570
14.247 SHOP 2016 - Loans 37,462 - (10,692) 26,771
14.247 SHOP 2017 - Loans 56,250 - (14,052) 42,198
14.247 SHOP 2018 - Loans 10,058 - - 10,058
14.247 SHOP 2018 - Loans 16,763 - - 16,763
14.247 SHOP 2019 - Loans 27,500 - - 27,500
14.247 SHOP 2019 - Loans 6,875 - - 6,875
$ 212,480 $ - $ (59,525) $ 152,955