Notes to SEFA
Title: Major Program
Accounting Policies: The accompanying schedule of expenditures of federal awards (the schedule) includes the federalaward activity of Habitat under programs of the federal government for the year ended June 30,2022. The information is presented in accordance wit the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the schedule presents only aselected portion of the operations of Habitat, it is not intended to and does not present the financialposition, changes in net position, or cash flows of Habitat.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. Expenditures reported on this schedule are presented using the accrual basis of accounting as described in Note 2 to Habitats basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures may or may not be allowable or are limited as to reimbursement.
Habitat has two major programs. Home Investment Partnership Program with current yearexpenditures of $332,979 and AmeriCorps with current year expenditures of $353,198 as definedin the Uniform Guidance. Since Habitat is a high-risk auditee, coverage of at least 40 percent offederally awarded funds was required. Actual coverage was approximately 68 percent of totalfederally awarded expenditures