Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activities of Gregory House Programs (the Organization) under programs of the federal government for the fiscal year ended June 30, 2024. The information in the 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 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 certain types of expenditures are not allowable or are limited as to reimbursement.
The federal expenditures for the Home Investment Partnerships Program are the balance of a loan from previous fiscal years for which compliance requirements continue. As of June 30, 2024, the loan balance was $858,482.
The Organization has elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.