Notes to SEFA
Title: Supportive Housing for Persons With Disabilities
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Kenai
Peninsula Housing Initiatives, Inc. under programs of the federal government for the year ended December 31, 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). Because the Schedule
presents only a selected portion of the operations of Kenai Peninsula Housing Initiatives, Inc., it is not intended to and does not
present the financial position, changes in net assets or cash flows of Kenai Peninsula Housing Initiatives, Inc. Expenditures reported on the Schedule are reported on the full 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: Kenai Peninsula Housing Initiatives, Inc. has elected to not use the 10 percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The amount above for "Supportive Housing for Person with Disabilities" represents the full balance of the capital advance subject
to this federal program and not expenditures incurred for the year ended December 31, 2022.