Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of the Organization under programs of the federal government 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 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 HABITAT FOR HUMANITY OF MONTGOMERY AND DELAWARE COUNTIES, INC., it is not intended to and does not present the financial position, change in net assets, or cash flows of HABITAT FOR HUMANITY OF MONTGOMERY AND DELAWARE COUNTIES, INC. The financial activity of the aforementioned awards is reported in the Organization’s Statement of Activities.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the applicable cost principles, wherein certain types of expenditures are not allowed or are limited as to reimbursement. The Organization has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
At June 30, 2025 Deferred revenue $ 1,153,120 Less: State and local deferred revenue (388,162) Less: Contributions receivable (4,432) Add: State and local contributions receivable 3,952 Net deferred revenue $ 764,478