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, as applicable, the cost principles contained in the Uniform Guidance and the Wisconsin State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Road Home has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and other awards (“Schedule”) includes the federal and other award activity of The Road Home under programs of the federal and state 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”) and the Wisconsin State Single Audit Guidelines. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in, the preparation of the consolidated financial statements.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance and the Wisconsin State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Road Home has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Road Home has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Loans Outstanding
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance and the Wisconsin State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Road Home has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The federal expenditures reported on the Schedule include the balance of a loan from a previous year for which the Department of Housing and Urban Development imposes continuing compliance requirements. At December 31, 2023, the balance of this loan outstanding totaled $543,550.
Title: Other Awards
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principles contained in the Uniform Guidance and the Wisconsin State Single Audit Guidelines, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Road Home has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The expenditures in the “other awards” column of the Schedule are from purchase of service contracts or other contracts that are not subject to the Uniform Guidance or Wisconsin State Single Audit Guidelines.