Notes to SEFA
Title: Note 4: Capital Advance Balance
Accounting Policies: Note 1: Basis of Presentation:
This schedule of expenditures of federal awards includes the federal award activity of Plan Homes, Inc. 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 Audits for Federal Awards (Uniform Guidance). Because
the Schedule presents only a selected portion of the operations of Plan Homes, Inc., it is not intended to and
does not present the financial position, changes in net assets, or cash flows of Plan Homes, Inc.
Note 2: Summary of Significant Accounting Policies:
Expenditures reporting on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Note 3: Indirect Cost Rate:
Plan Homes, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
Plan Homes, Inc. capital advance balance outstanding as of December 31, 2023 was $1,000,600 and is included
in the federal expenditures presented in the schedule.