Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Habitat for Humanity of Tuscaloosa, 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because this schedule only presents a selected portion of the operations of Habitat for Humanity of Tuscaloosa, Inc., it is not intended to and does not present the financial position, change in net assets or cash flows of Habitat for Humanity of Tuscaloosa, Inc. NOTE 2 - SUMMARY OF SIGNIFICANT 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 for Humanity of Tuscaloosa, Inc. 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: The Organization used an hourly rate for indirect costs per the grant agreement.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Habitat for Humanity of Tuscaloosa, 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because this schedule only presents a selected portion of the operations of Habitat for Humanity of Tuscaloosa, Inc., it is not intended to and does not present the financial position, change in net assets or cash flows of Habitat for Humanity of Tuscaloosa, Inc.
Title: NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Habitat for Humanity of Tuscaloosa, 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because this schedule only presents a selected portion of the operations of Habitat for Humanity of Tuscaloosa, Inc., it is not intended to and does not present the financial position, change in net assets or cash flows of Habitat for Humanity of Tuscaloosa, Inc. NOTE 2 - SUMMARY OF SIGNIFICANT 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 for Humanity of Tuscaloosa, Inc. 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: The Organization used an hourly rate for indirect costs per the grant agreement.
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 for Humanity of Tuscaloosa, Inc. has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: NOTE 3 – INDIRECT COST RATE
Accounting Policies: NOTE 1 - BASIS OF PRESENTATION
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Habitat for Humanity of Tuscaloosa, 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because this schedule only presents a selected portion of the operations of Habitat for Humanity of Tuscaloosa, Inc., it is not intended to and does not present the financial position, change in net assets or cash flows of Habitat for Humanity of Tuscaloosa, Inc. NOTE 2 - SUMMARY OF SIGNIFICANT 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 for Humanity of Tuscaloosa, Inc. 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: The Organization used an hourly rate for indirect costs per the grant agreement.
The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.