Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Lighthouse MI, (the Organization) under the 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 Lighthouse MI, it is not intended to and does not present the consolidated financial position, consolidated changes in net assets, or consolidated cash flows of Lighthouse MI.
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 following table reconciles the grants and contracts revenue per the Lighthouse MI consolidated financial statements for the year ended June 30, 2025, to the total on the Schedule: Total government grants per the Schedule $ 4,279,425 Less: Non-federal items 204,614 Total expenditures per consolidated statement of activities $ 4,484,039 The Organization receives certain federal grants as subawards from non-federal entities. Pass-through entities, where applicable, have been identified in the Schedule with an abbreviation, defined as follows: Abbreviations Pass-Through Agency Names MSHDA Michigan State Housing Development Authority NW NeighborWorks Oakland Oakland County, Michigan MDHHS Michigan Department of Health and Human Services Southfield City of Southfield, Michigan Farmington City of Farmington, Michigan
The Organization has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.