Notes to SEFA
The accompanying schedule of expenditures of federal awards and state financial assistance (the "Schedule") includes the federal and pass-through state grant activity of Habitat for Humanity of Greater Memphis, Inc. (the “Organization”) under programs of the federal and state governments for the year ended June 30, 2025. 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 cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
The Organization did not elect to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance