Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: 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. Affordable Housing Alliance, Inc. has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Affordable Housing Alliance, Inc. does not have a federally negotiated indirect cost rate and has not elected to use the 10% de minimis rate as covered in Section 200.414 in the Uniform Guidance.
The consolidated schedule of expenditures of federal awards and state financial assistance (the “Schedule”) includes the grant activity of Affordable Housing Alliance, Inc. and is presented on the accrual basis of accounting. 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 Affordable Housing Alliance, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Affordable Housing Alliance, Inc.