Notes to SEFA
The accompanying Schedule of Expenditures of Federal and State Awards (the Schedule) includes the federal and state award activity of Greater Fox Cities Area Habitat for Humanity, Inc. and Subsidiaries (the organization) under programs of the federal government and state agencies for the year ended June 30, 2025. 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), and State Single Audit Guidelines. 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.
Funds from the Self-Help Homeownership Opportunity Program (SHOP) are awarded 75% as a grant, and 25% as a noninterest-bearing note payable. SHOP grant revenue and the associated notes payable proceeds are included in the federal expenditures presented in the Schedule. The amount reported as federal expenditures in the Schedule for SHOP for the year ended June 30, 2025 was calculated as follows: SHOP Notes Payable Proceeds $56,506 SHOP Grant Revenue 169,517 SHOP Federal Expenditures $226,023 The balance of SHOP notes payable outstanding at June 30, 2025 totaled $278,630.