Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations , Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: AHW has elected to use the ten percent (10%) de minimis indirect cost rate as allowed under the Uniform Guidance.
The Schedule includes the federal award activity of Addison Housing Works 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 the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of AHW, it is not intended to and does not present the financial position, changes in net assets or cash flows of AHW.
Title: U.S. DEPARTMENT OF AGRICULTURE LOAN
Accounting Policies: Expenditures reported on the Schedule of Expenditures of Federal Awards (the Schedule) are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations , Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: AHW has elected to use the ten percent (10%) de minimis indirect cost rate as allowed under the Uniform Guidance.
In 2022, AHW signed a promissory note to borrow $203,000 from the U.S. Department of Agriculture, Water and Waste Disposal Systems for Rural Communities program for the Lindale Mobile Home Park septic system improvement capital project. The balance of the loan payable was $0 as of December 31, 2022. AHW borrowed the entire $203,000 available in 2023 and the balance as of December 31, 2023 was $199,981.