Notes to SEFA
Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant
activity of New Visions Homeless Services and Subsidiaries (the Organization) 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 of Principles, and Audit Requirements for Federal Awards
(Uniform Guidance). Therefore, some amounts presented in this schedule may differ from
amounts presented in or used in the preparation of the consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: The
entity has elected to use the 15% de minimis indirect cost rate, as allowed under the Uniform
Guidance. The de minimis indirect cost rate increased from 10% to 15% on October 1, 2024.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of New Visions Homeless Services and Subsidiaries (the Organization) 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 of Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. The entity has elected to use the 15% de minimis indirect cost rate, as allowed under the Uniform Guidance. The de minimis indirect cost rate increased from 10% to 15% on October 1, 2024.
Title: NOTE B – TYPE A PROGRAM THRESHOLD
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant
activity of New Visions Homeless Services and Subsidiaries (the Organization) 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 of Principles, and Audit Requirements for Federal Awards
(Uniform Guidance). Therefore, some amounts presented in this schedule may differ from
amounts presented in or used in the preparation of the consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: The
entity has elected to use the 15% de minimis indirect cost rate, as allowed under the Uniform
Guidance. The de minimis indirect cost rate increased from 10% to 15% on October 1, 2024.
The threshold of Type A and Type B programs was $750,000 for the year ended December 31, 2024
Title: NOTE C – MAJOR PROGRAM
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant
activity of New Visions Homeless Services and Subsidiaries (the Organization) 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 of Principles, and Audit Requirements for Federal Awards
(Uniform Guidance). Therefore, some amounts presented in this schedule may differ from
amounts presented in or used in the preparation of the consolidated financial statements.
De Minimis Rate Used: Y
Rate Explanation: The
entity has elected to use the 15% de minimis indirect cost rate, as allowed under the Uniform
Guidance. The de minimis indirect cost rate increased from 10% to 15% on October 1, 2024.
ALN Program Name
64.024 VA Homeless Providers Grant and Per Diem Program