Notes to SEFA
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards includes the federal grant activity of HBHCI HUD 8, Inc., HUD PROJECT NO. 067-HD077, and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the presentation of, the basic financial statements. The organization has not elected to use the 10% deminimus cost rate.
De Minimis Rate Used: N
Rate Explanation: The organization has not elected to use the 10% deminimus cost rate.