Notes to SEFA
Title: Note A: Basis of Presentation
Accounting Policies: Expenditures reported 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: GRANTS ONLY ALLOWED A 6% INDIRECT RATE
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant award activity of Episcopal Housing Corporation 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 (CFR) 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 Episcopal Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Episcopal Housing Corporation.
Title: Note A: Basis of Presentation
Accounting Policies: Expenditures reported 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: GRANTS ONLY ALLOWED A 6% INDIRECT RATE
Pass-Through entity identifying numbers are presented when available.
Title: Note D: Agency Transactions Related to the Federal Awards
Accounting Policies: Expenditures reported 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: GRANTS ONLY ALLOWED A 6% INDIRECT RATE
Episcopal Housing Corporation acts in an agency capacity with regards to the federal awards listed on the Schedule, which are provided as grants to one subrecipient in their entirety. Episcopal Housing Corporation does not charge any of its administrative costs related to the administering of these grants against these grants. Therefore, the amounts reported on the Schedule are not reflected as revenue on Episcopal Housing Corporation and Affiliates’ audited financial statements, herein presented.