Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Organization under programs of the federal government for the year ended September 30, 2024. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
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 certan types of expenditures are not allwoable or are limited as to reimbursements.
The Organization has elected to not use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
There were no payments made to subrecipients during the year ended September 30, 2024.
The amount of deferred grant revenue for contract ERA-EPP-2023-04 at September 30, 2023 represents advances made by the Tennessee Housing Development Agency.