Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Expenditures reported in the Schedule are reported on the accrual basis of accounting. See Note B of
the notes to the consolidated financial statements for Habitat’s significant accounting policies. These
expenditures are reported on Habitat’s fiscal year-end, which is from January 1, 2023 to December 31,
2023. Expenditure reports to funding agencies are prepared based on award periods. Such expenditures
are recognized following the cost principles in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Habitat has elected not to use the
10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: See Note 2, last sentence.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal
grant activity of Fort Worth Area Habitat for Humanity, Inc. dba Trinity Habitat for Humanity
(“Habitat”) 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 Habitat, it is not intended to, and does not, present the financial
position, changes in financial position, or cash flows of Habitat.
Title: Note 3 – Relationship to the Basic Financial Statements
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Expenditures reported in the Schedule are reported on the accrual basis of accounting. See Note B of
the notes to the consolidated financial statements for Habitat’s significant accounting policies. These
expenditures are reported on Habitat’s fiscal year-end, which is from January 1, 2023 to December 31,
2023. Expenditure reports to funding agencies are prepared based on award periods. Such expenditures
are recognized following the cost principles in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Habitat has elected not to use the
10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: See Note 2, last sentence.
Federal and state awards revenues are reported in Habitat’s basic financial statements as follows: See Notes to SEFA for table/chart.
Title: Note 4 – Note Payable
Accounting Policies: Note 2 – Summary of Significant Accounting Policies
Expenditures reported in the Schedule are reported on the accrual basis of accounting. See Note B of
the notes to the consolidated financial statements for Habitat’s significant accounting policies. These
expenditures are reported on Habitat’s fiscal year-end, which is from January 1, 2023 to December 31,
2023. Expenditure reports to funding agencies are prepared based on award periods. Such expenditures
are recognized following the cost principles in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Habitat has elected not to use the
10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: See Note 2, last sentence.
During 2023, Habitat received one interest free loan from the City of Fort Worth through grants
provided by the United States Department of the Treasury. The loan is forgivable upon Habitat
selling townhomes to affordable buyers which are defined in the underlying loan agreement, but in
no event should any such sales take place later than December 31, 2026.
Loans outstanding at the beginning of the year and loans made during the year are included in the
federal expenditures presented in the Schedule. The balance of loans outstanding at December 31,
2023, consists of:
See Notes to SEFA for table/chart.