Notes to SEFA
Title: NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: See Note A to the SEFA.
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: NOTE B - BASIS OF PRESENTATION
Accounting Policies: See Note A to the SEFA.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Greater Cleveland Habitat for Humanity, Inc., GCHFH Funding Company, LLC and 2110 West 110th, LLC (GCHFH) under programs of the federal government for the year ended December 31, 2024. 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 GCHFH, it is not intended to and does not present the financial position, changes in net assets, or cash flows of GCHFH.
Title: NOTE C - INDIRECT COST RATE
Accounting Policies: See Note A to the SEFA.
De Minimis Rate Used: N
Rate Explanation: N/A
GCHFH has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE D – SUBRECIPIENTS
Accounting Policies: See Note A to the SEFA.
De Minimis Rate Used: N
Rate Explanation: N/A
GCHFH provided $644,833 in federal awards to subrecipients during the year ended December 31, 2024.
Title: NOTE E – DISCLOSURE OF OTHER FORMS OF ASSISTANCE
Accounting Policies: See Note A to the SEFA.
De Minimis Rate Used: N
Rate Explanation: N/A
GCHFH received no federal awards of non-monetary assistance that are required to be disclosed for the year ended December 31, 2024. GCHFH had no loans, loan guarantees, or federally restricted endowment funds required to be disclosed for the year ended December 31, 2024.