Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of People's Self-Help Housing Corporation 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 Requirments, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of People's Self-Help Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of People's Self-Help Housing Corporation.
De Minimis Rate Used: N
Rate Explanation: A negotiated indirect cost agreement was approved by the U.S. Department of interior, National Business Center for the U.S. Department of Agriculture, Rural Housing Service on April 5, 2022. The method for calculating PSHHC’s indirect rate is the total indirect cost divided by the total direct salaries and fringe less unrestricted salary and fringe. The current year’s predetermined indirect cost rate is 34.50%.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of People's Self-Help Housing Corporation 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 Requirments, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of People's Self-Help Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of People's Self-Help Housing Corporation.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of People's Self-Help Housing Corporation 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 Requirments, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of People's Self-Help Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of People's Self-Help Housing Corporation.
De Minimis Rate Used: N
Rate Explanation: A negotiated indirect cost agreement was approved by the U.S. Department of interior, National Business Center for the U.S. Department of Agriculture, Rural Housing Service on April 5, 2022. The method for calculating PSHHC’s indirect rate is the total indirect cost divided by the total direct salaries and fringe less unrestricted salary and fringe. The current year’s predetermined indirect cost rate is 34.50%.
(1) 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. (2) People's Self-Help Housing Corporation has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: Loans Outstanding
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of People's Self-Help Housing Corporation 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 Requirments, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of People's Self-Help Housing Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of People's Self-Help Housing Corporation.
De Minimis Rate Used: N
Rate Explanation: A negotiated indirect cost agreement was approved by the U.S. Department of interior, National Business Center for the U.S. Department of Agriculture, Rural Housing Service on April 5, 2022. The method for calculating PSHHC’s indirect rate is the total indirect cost divided by the total direct salaries and fringe less unrestricted salary and fringe. The current year’s predetermined indirect cost rate is 34.50%.
See the Notes to the SEFA for chart/table