Notes to SEFA
Title: 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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Kalamazoo Neighborhood Housing Services, Inc. and Subsidiaries has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Kalamazoo Neighborhood Housing Services, Inc. and Subsidiaries 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 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 Kalamazoo Neighborhood Housing Services, Inc. and Subsidiaries, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Kalamazoo Neighborhood Housing Services, Inc. and Subsidiaries.
Title: Reconciliation to the Consolidated financial statements
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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Kalamazoo Neighborhood Housing Services, Inc. and Subsidiaries has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Federal expenditures reported on the Schedule reconcile to federal revenues included in government contracts in the consolidated financial statements as follows:
Government agency grants and contracts, per consolidated financial statements: $2,989,253,
Neighborhood investment grants, per consolidated financial statements: $270,271,
Less non-federal portion: ($1,351,296),
Equals total federal expenditures per the Schedule: $ 1,908,228
Title: Subrecipients
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 where certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Kalamazoo Neighborhood Housing Services, Inc. and Subsidiaries has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
No amounts were provided to subrecipients.