Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. 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: Y
Rate Explanation: Shelterhouse Volunteer Group, Inc. and Affiliates has elected to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
The schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Shelterhouse Volunteer Group, Inc. and Affiliates for the year ended June 30, 2022. 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). Therefore, some amounts presented on this schedule may differ from those amounts presented in, or used in, the preparation of the basic consolidated financial statements.
Title: FEDERAL LOANS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting in accordance with generally accepted accounting principles. 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: Y
Rate Explanation: Shelterhouse Volunteer Group, Inc. and Affiliates has elected to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.
The Community Development Block Grants Section 108 Loan Guarantees are administered directly by Shelterhouse Volunteer Group, Inc. and Affiliates, and balances and transactions relating to this program are included in Shelterhouse Volunteer Group, Inc. and Affiliates' consolidated financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at June 30, 2022 was $4,900,000.