Notes to SEFA
Accounting Policies: Note 1 The accompanying Schedule of Expenditures of Federal Awards includes the Federal
grant activity of Habitat, 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 preparation of, the basic financial statements.
Note 2 Management has reported that expenditures in the Schedule of Expenditures of Federal
Awards are equal to or derived from those amounts reported in the annual or final cost
reports. Unallowed differences, if any, have been disclosed to the auditor.
Note 3 The financial reports, including claims for advances and reimbursements, and amounts
claimed or used for matching are timely, complete, accurate and contain information that
is supported by the books and records from which the financial statements have been
prepared.
Note 4 Habitat did not use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.
Note 5 The balance of the Assistance Listing 10.766 United States Department of Agriculture
loan at December 31, 2023 was $938,462.
De Minimis Rate Used: N
Rate Explanation: Habitat did not use the 10% de minimis indirect cost rate allowed under the Uniform
Guidance.