Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal granting activity of Holy Trinity Housing Incorporated HUD Project 083-EE097-NP-WAH (Holy Trinity) 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 (CFR) 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.
The accompanying schedule of expenditures of federal awards includes the capital advance and home funds outstanding at January 1, 2025 of $1,774,116. During the year ended December 31, 2025, principal payments of $0 were paid on the capital advance and HOME funds. At December 31, 2025, the capital advance and HOME funds balance outstanding is $1,774,116.
Holy Trinity elected to not use the 10% de minimis indirect cost rate as covered in section 200.414 of the Uniform Guidance for Federal Awards. Instead of electing a 10% de minimis indirect cost rate, Holy Trinity has a HUD-approved management agreement allowing a per unit per month fee to cover administrative fees as set forth in the agreement.