Notes to SEFA
Title: 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: Y
Rate Explanation: The auditee has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Rebuilding Together, Inc. under programs of the federal government for the year ended December 31, 2021. 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). Because the Schedule presents only a selected portion of the operations of Rebuilding Together, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Title: Reconciliation to Revenue
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: Y
Rate Explanation: The auditee has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards is reconciled to the Statement of Activities and Changes in Net Assets as follows: Schedule of Expenditures of Federal Awards $1,509,991 + Forgiveness of PPP loan $650,991 + Other $3,391 equal to $2,641,373.