Notes to SEFA
The accompanying schedule of expenditures and federal awards (“Schedule”) includes the federal award activity of Sussex County Habitat for Humanity, Inc. and Subsidiary, 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 Sussex County Habitat for Humanity, Inc. and Subsidiary, Inc., the Schedule is not intended to and does not present the financial position, changes in net assets, or cash flows of Sussex County Habitat for Humanity, Inc. and Subsidiary.
Expenditures reported on this Schedule are reflected 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. Sussex County Habitat for Humanity, Inc. and Subsidiary has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.