Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal grant activity of PATH (People Assisting The Homeless) (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 the Title 2 U.S. Code of Federal Regulations (CFR) 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 the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (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 has elected to use the 10 percent de minimis indirect rate allowed under the Uniform Guidance only for the Homeless Veterans Reintegration Project.
The Schedule includes only federal government contract income; however, the Statement of Activities has government contract income of $157,424,509 which includes not only federal funding but also government funding from state, county, and cities. As a result, the amount of total federal awards expended on the schedule does not agree to total government contract income on the Statement of Activities as presented in the Organization’s audited financial statements as of and for the year ended June 30, 2025.