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: N
Rate Explanation: Extended Housing, Inc. has elected not to use the 10 percent de minimus cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of Federal awards includes the Federal award activity of Extended
Housing, Inc. under programs of the Federal government for the year ended June 30, 2024. 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 Extended Housing, Inc., it is
not intended to and does not present the financial position, changes in net assets, or cash flows of Extended Housing,
Inc.
Title: Passed through to subrecipients
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: N
Rate Explanation: Extended Housing, Inc. has elected not to use the 10 percent de minimus cost rate as allowed under the Uniform Guidance.
Extended Housing, Inc. did not pass through any Federal awards to subrecipients for the year ended June 30, 2024.
Title: U.S. Department of Housing and Urban Development capital advance program
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: N
Rate Explanation: Extended Housing, Inc. has elected not to use the 10 percent de minimus cost rate as allowed under the Uniform Guidance.
Extended Housing, Inc. has received a U.S. Department of Housing and Urban Development capital advance under
Section 202 of the National Housing Act. The capital advance balance outstanding at the beginning of the year is
included in the Federal expenditures presented in the schedule. Extended Housing, Inc. received no additional
advances or loans during the year. The balance of the capital advance outstanding at June 30, 2024 consists of: Assistance Listing
Number: 14.157, Program Name: Supportive Housing for the Elderly:
Section 202 Capital Advance (HUD), Outstanding Balances at
June 30, 2024: $107,362