Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Holy Wisdom Housing Development Fund Company, Inc. 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 Holy Wisdom Housing Development Fund Company, Inc., it is not intended to and does not present the financial position, changes in net assets (deficit) or cash flows of Holy Wisdom Housing Development Fund Company, Inc.
Expenditures reported on the Schedule are reported on the accrual basis of accounting.
The Company has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.