Notes to SEFA
Title: Capital advance
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Grasslands Housing, Inc. under programs of the federal government for the year ended December 31, 2024. The information in this schedule is presented in accordance with requirements of the 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 Grasslands Housing, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Grasslands Housing, Inc. 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.
De Minimis Rate Used: N
Rate Explanation: Grasslands Housing, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
The balance of the capital advance from the Department of Housing and Urban Development at December 31, 2024 was $885,889.
Title: Sub-recipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Grasslands Housing, Inc. under programs of the federal government for the year ended December 31, 2024. The information in this schedule is presented in accordance with requirements of the 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 Grasslands Housing, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Grasslands Housing, Inc. 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.
De Minimis Rate Used: N
Rate Explanation: Grasslands Housing, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the
Uniform Guidance.
Grasslands Housing, Inc. does not have subrecipients or subrecipient expenditures.