Notes to SEFA
Title: : FUNDS PROVIDED TO SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Mon Valley Initiative 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Mon Valley Initiative.
De Minimis Rate Used: Y
Rate Explanation: The Organization elected to use the 10% de minimis indirect cost rate.
$304,710 was provided to sub recipients from the Housing Counseling Assistance Program CFDA#14.169.