Title: Awards for Sub-Recipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of New Pisgah Haven Homes HUD Project No. 071 EE056, under programs of the federal government for the year ended May 31, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 the Schedule presents only a selected portion of the operations of New Pisgah Haven Homes HUD Project No. 071 EE056, it is not intended to and does not present the financial position, changes in net assets or cash flows of New Pisgah Haven Homes HUD Project No. 071 EE056.
De Minimis Rate Used: N
Rate Explanation: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of New Pisgah Haven Homes HUD Project No. 071-EE056, under programs of the federal government for the year ended May 31, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 the Schedule presents only a selected portion of the operations of New Pisgah Haven Homes HUD Project No. 071-EE056, it is not intended to and does not present the financial position, changes in net assets or cash flows of New Pisgah Haven Homes HUD Project No. 071-EE056
The Project does not have sub-recipients of federal awards.
Title: Non-Cash Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of New Pisgah Haven Homes HUD Project No. 071 EE056, under programs of the federal government for the year ended May 31, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 the Schedule presents only a selected portion of the operations of New Pisgah Haven Homes HUD Project No. 071 EE056, it is not intended to and does not present the financial position, changes in net assets or cash flows of New Pisgah Haven Homes HUD Project No. 071 EE056.
De Minimis Rate Used: N
Rate Explanation: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of New Pisgah Haven Homes HUD Project No. 071-EE056, under programs of the federal government for the year ended May 31, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 the Schedule presents only a selected portion of the operations of New Pisgah Haven Homes HUD Project No. 071-EE056, it is not intended to and does not present the financial position, changes in net assets or cash flows of New Pisgah Haven Homes HUD Project No. 071-EE056
The Project did not receive any non-cash assistance.
Title: Insurance
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of New Pisgah Haven Homes HUD Project No. 071 EE056, under programs of the federal government for the year ended May 31, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 the Schedule presents only a selected portion of the operations of New Pisgah Haven Homes HUD Project No. 071 EE056, it is not intended to and does not present the financial position, changes in net assets or cash flows of New Pisgah Haven Homes HUD Project No. 071 EE056.
De Minimis Rate Used: N
Rate Explanation: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of New Pisgah Haven Homes HUD Project No. 071-EE056, under programs of the federal government for the year ended May 31, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 the Schedule presents only a selected portion of the operations of New Pisgah Haven Homes HUD Project No. 071-EE056, it is not intended to and does not present the financial position, changes in net assets or cash flows of New Pisgah Haven Homes HUD Project No. 071-EE056
New Pisgah Haven Homes HUD Project No. 071-EE056 did not receive any insurance assistance.
Title: Loan and Loan Guarantees
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of New Pisgah Haven Homes HUD Project No. 071 EE056, under programs of the federal government for the year ended May 31, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 the Schedule presents only a selected portion of the operations of New Pisgah Haven Homes HUD Project No. 071 EE056, it is not intended to and does not present the financial position, changes in net assets or cash flows of New Pisgah Haven Homes HUD Project No. 071 EE056.
De Minimis Rate Used: N
Rate Explanation: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of New Pisgah Haven Homes HUD Project No. 071-EE056, under programs of the federal government for the year ended May 31, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 the Schedule presents only a selected portion of the operations of New Pisgah Haven Homes HUD Project No. 071-EE056, it is not intended to and does not present the financial position, changes in net assets or cash flows of New Pisgah Haven Homes HUD Project No. 071-EE056
New Pisgah Haven Homes HUD Project No. 071-EE056 did not receive any additional loans or loan guarantees during the year ended May 31, 2024. Capital advance at the end of 2024 were $4,171,500.
Title: Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of New Pisgah Haven Homes HUD Project No. 071 EE056, under programs of the federal government for the year ended May 31, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 the Schedule presents only a selected portion of the operations of New Pisgah Haven Homes HUD Project No. 071 EE056, it is not intended to and does not present the financial position, changes in net assets or cash flows of New Pisgah Haven Homes HUD Project No. 071 EE056.
De Minimis Rate Used: N
Rate Explanation: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of New Pisgah Haven Homes HUD Project No. 071-EE056, under programs of the federal government for the year ended May 31, 2024. The information in this Schedule is presented in accordance with the requirements of the 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 the Schedule presents only a selected portion of the operations of New Pisgah Haven Homes HUD Project No. 071-EE056, it is not intended to and does not present the financial position, changes in net assets or cash flows of New Pisgah Haven Homes HUD Project No. 071-EE056
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. Pass through entity identifying numbers are presented where available. The Project has not elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.