Notes to SEFA
Accounting Policies: BASIS OF ACCOUNTINGThe accompanying schedule of expenditures of federal awards includes the federal grant activity of Homes for Life Foundation, under programs of the federal government for the year ended December 31, 2022 Expenditures reported on the schedule are reported 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 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 the Organization, it is not intended and does not present the financial position, changes in net assets, or cash flows of the Organization.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.