Title: Basis of Presentation
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (SEFA) includes the
federal award activity of the Organization under the programs of the federal government
for the year ended December 31, 2023. The information in the SEFA 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). Because the SEFA presents only a selected
portion of the operations of the Organization, it is not intended to, and does not, present
the financial position, changes in net assets, or cash flows of the Organization.
2. Summary of Significant Accounting Policies
Expenditures reported on the SEFA 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: The Organization records its expenditures of federal awards using the indirect cost and
fringe benefit rates per the nonprofit rate agreement with the federal government, which
was approved in accordance with the authority in the Uniform Guidance. In this manner,
the Organization has elected not to use the 10% de minimis indirect cost rate, which is
allowed in accordance with the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (SEFA) includes the
federal award activity of the Organization under the programs of the federal government
for the year ended December 31, 2023. The information in the SEFA 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). Because the SEFA presents only a selected
portion of the operations of the Organization, it is not intended to, and does not, present
the financial position, changes in net assets, or cash flows of the Organization.
Title: Summary of Significant Accounting Policies
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (SEFA) includes the
federal award activity of the Organization under the programs of the federal government
for the year ended December 31, 2023. The information in the SEFA 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). Because the SEFA presents only a selected
portion of the operations of the Organization, it is not intended to, and does not, present
the financial position, changes in net assets, or cash flows of the Organization.
2. Summary of Significant Accounting Policies
Expenditures reported on the SEFA 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: The Organization records its expenditures of federal awards using the indirect cost and
fringe benefit rates per the nonprofit rate agreement with the federal government, which
was approved in accordance with the authority in the Uniform Guidance. In this manner,
the Organization has elected not to use the 10% de minimis indirect cost rate, which is
allowed in accordance with the Uniform Guidance.
Expenditures reported on the SEFA 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.
Title: Indirect Cost Rate
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (SEFA) includes the
federal award activity of the Organization under the programs of the federal government
for the year ended December 31, 2023. The information in the SEFA 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). Because the SEFA presents only a selected
portion of the operations of the Organization, it is not intended to, and does not, present
the financial position, changes in net assets, or cash flows of the Organization.
2. Summary of Significant Accounting Policies
Expenditures reported on the SEFA 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: The Organization records its expenditures of federal awards using the indirect cost and
fringe benefit rates per the nonprofit rate agreement with the federal government, which
was approved in accordance with the authority in the Uniform Guidance. In this manner,
the Organization has elected not to use the 10% de minimis indirect cost rate, which is
allowed in accordance with the Uniform Guidance.
The Organization records its expenditures of federal awards using the indirect cost and
fringe benefit rates per the nonprofit rate agreement with the federal government, which
was approved in accordance with the authority in the Uniform Guidance. In this manner,
the Organization has elected not to use the 10% de minimis indirect cost rate, which is
allowed in accordance with the Uniform Guidance.
Title: Non-Low Risk Auditee
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (SEFA) includes the
federal award activity of the Organization under the programs of the federal government
for the year ended December 31, 2023. The information in the SEFA 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). Because the SEFA presents only a selected
portion of the operations of the Organization, it is not intended to, and does not, present
the financial position, changes in net assets, or cash flows of the Organization.
2. Summary of Significant Accounting Policies
Expenditures reported on the SEFA 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: The Organization records its expenditures of federal awards using the indirect cost and
fringe benefit rates per the nonprofit rate agreement with the federal government, which
was approved in accordance with the authority in the Uniform Guidance. In this manner,
the Organization has elected not to use the 10% de minimis indirect cost rate, which is
allowed in accordance with the Uniform Guidance.
In order to qualify as a low-risk auditee, the Organization must meet the conditions set by
the Uniform Guidance for each of the preceding two audit periods.
The Organization did not require the Uniform Guidance audit for the year ended
December 31, 2022 since the total expenditures of federal awards were below the
Uniform Guidance threshold of $750,000 for the year then ended. Therefore, the
Organization did not qualify as a low-risk auditee for the year ended December 31, 2023
since the Uniform Guidance audit was not performed for each of the preceding two audit
periods.
Title: Housing Stability Counseling Program
Accounting Policies: 1. Basis of Presentation
The accompanying schedule of expenditures of federal awards (SEFA) includes the
federal award activity of the Organization under the programs of the federal government
for the year ended December 31, 2023. The information in the SEFA 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). Because the SEFA presents only a selected
portion of the operations of the Organization, it is not intended to, and does not, present
the financial position, changes in net assets, or cash flows of the Organization.
2. Summary of Significant Accounting Policies
Expenditures reported on the SEFA 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: The Organization records its expenditures of federal awards using the indirect cost and
fringe benefit rates per the nonprofit rate agreement with the federal government, which
was approved in accordance with the authority in the Uniform Guidance. In this manner,
the Organization has elected not to use the 10% de minimis indirect cost rate, which is
allowed in accordance with the Uniform Guidance.
Housing Stability Counseling Program funds were made available through the American
Rescue Plan Act of 2021 (Public Law 117-2) and are administered by NeighborWorks
America. NeighborWorks America is a public, Congressionally-chartered nonprofit
organization that receives a direct federal appropriation. NeighborWorks America is not
a federal agency and at present does not have an Assistance Listing Number (formerly
known as the CFDA Number) assigned by the Office of Management & Budget.
Consistent with guidance provided to NeighborWorks America by the Federal Audit
Clearinghouse, Grantees and sub-recipients of the Housing Stability Counseling Program
subject to the Single Audit Act were instructed to use 99.U19 for their Housing Stability
Counseling Program grant funds.