Title: Note 1 - 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. Habitat has elected not to use the 10 percent de minimis
indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Habitat has elected not to use the 10 percent de minimis
indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant and loan
activity of Habitat for Humanity Seattle-King County and its affiliates, including HFHSKC Community Housing
Development Organization (Habitat). 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 Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the
operations of the Habitat, it is not intended to and does not present the financial position, changes in net assets,
or cash flows of Habitat.
Title: Note 2 - Summary of Significant Accounting Policies
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. Habitat has elected not to use the 10 percent de minimis
indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Habitat has elected not to use the 10 percent de minimis
indirect cost rate allowed under the Uniform Guidance.
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. Habitat has elected not to use the 10 percent de minimis
indirect cost rate allowed under the Uniform Guidance.
Title: Note 3 - Loans and Grants With Continuing Compliance Requirements
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. Habitat has elected not to use the 10 percent de minimis
indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Habitat has elected not to use the 10 percent de minimis
indirect cost rate allowed under the Uniform Guidance.
Habitat received the following funding through loans and grants from the U.S. Department of Housing and Urban
Development and other agencies. Loan documents require compliance with program regulations until the
maturity date of the loan or the period of affordability expires. The loan balances outstanding as of the beginning
of the year and current year additions to those loans are included in the federal expenditures presented in the
Schedule. The grant and loan balances outstanding at June 30, 2024, are as follows:
Identifying Assistance Outstanding
Program Number Listing Number Balance
U.S. Department of the Treasury:
Passed through from King County-
Coronavirus State & Local Fiscal Recovery Funds None 21.027 $ 413,316
Passed through from City of Ellensburg-
Coronavirus State & Local Fiscal Recovery Funds 22-96720-212 21.027 355,500
U.S. Department of Housing and Urban Development:
Passed through from King County Community and Human Services-
Community Development Block Grants/Entitlement Grants D28048E 14.218 110,464
Community Development Block Grants/Entitlement Grants D05831D 14.218 18,775
Community Development Block Grants/Entitlement Grants D25413D 14.218 216,683
Passed through from City of Federal Way-
Community Development Block Grants/Entitlement Grants AG15-211 14.218 165,000
Community Development Block Grants/Entitlement Grants 2017-14 14.218 240,000
Passed through from King County Community and Human Services-
Home Investment Partnership Program D39877D 14.239 494,643
Home Investment Partnership Program D36650D 14.239 649,886
Home Investment Partnership Program D28048D 14.239 259,000
Home Investment Partnership Program D05814D 14.239 71,000
Home Investment Partnership Program D23686D 14.239 220,000
Home Investment Partnership Program 5858031 14.239 350,000
Home Investment Partnership Program 6169453 14.239 1,520,000
Home Investment Partnership Program 1128223 14.239 1,456,209
Passed through from Habitat for Humanity International, Inc.-
Self-Help Homeownership Opportunity Program 0092-2700 14.247 23,316
Passed through from Community Frameworks-
Self-Help Homeownership Opportunity Program HSKC-13-1 14.247 120,000
Self-Help Homeownership Opportunity Program HSKC-17-1 14.247 60,000
Self-Help Homeownership Opportunity Program HSKC-17-2 14.247 120,000
Total Loans Outstanding $ 6,863,792
Some of the loan balances under the HOME Investment Partnerships and Community Development Block Grant
Programs for the period ended June 30, 2024, were awarded to HFHSKC Community Housing Development
Organization.