Notes to SEFA
The schedule of expenditures of federal awards includes the federal grant activity of Perry County Non-Profit Housing Corporation and is presented on the accrual basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Under the U. S. Department of Agriculture (USDA) requirements, the amount of Federal Expenditures listed under the Community Housing Loan program represents the beginning of year loan balances for the USDA Loans. No funding was actually received or expended in the current year. The outstanding loan balances at December 31, 2024 amounted to $ 1,299,678.
The Organization has not elected to use the 10% de minimus indirect cost rate for its federal programs.