Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Northlake Homeless Coalition under programs of the federal government for the year ended December 31, 2024. The information in the schedule of expenditures of federal awards 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 of expenditures of federal awards presents only a selected portion of the operations of Northlake Homeless Coalition, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Northlake Homeless Coalition.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Northlake Homeless Coalition and is presented on the accrual basis of accounting. Grant revenues are recorded, for financial reporting purposes, when Northlake Homeless Coalition has met the cost of reimbursement or funding qualifications for the respective grants.
During the year ended December 31, 2024, the Coalition elected to use the 10% de minimis cost rate as covered in §200.414 of The Uniform Guidance.