Notes to SEFA
Title: A. Basis of Presentation
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of South Suburban Housing Center and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost 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 basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee did use the 10% de minimis cost rate
The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of South Suburban Housing Center and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost 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 basic financial statements.
Title: B. Indirect Facilities & Administration Costs
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of South Suburban Housing Center and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost 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 basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee did use the 10% de minimis cost rate
South Suburban Housing Center did use the 10% de minimis cost rate.
Title: C. Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of South Suburban Housing Center and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost 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 basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee did use the 10% de minimis cost rate
Of the federal expenditures presented in the schedule, South Suburban Housing Center did not provide awards to any subrecipients.
Title: D. Non-Cash Assitance
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of South Suburban Housing Center and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost 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 basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee did use the 10% de minimis cost rate
South Suburban Housing Center did not provide Non-Cash Assistance.
Title: E. Other Information
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the federal grant activity of South Suburban Housing Center and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Office of Management and Budget Uniform Administrative Requirements, Cost 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 basic financial statements.
De Minimis Rate Used: Y
Rate Explanation: The auditee did use the 10% de minimis cost rate
South Suburban Housing Center did not spend any federal award dollars on insurance. There are no outstanding loans or loan guarantees at December 31, 2023. South Suburban Housing Center did have grants with matching expenditures. In accordance with the Uniform Guidance, those amounts were not included on the SEFA.