Notes to SEFA
The accompanying schedule of expenditures of federal awards presents the activity of all federal awards received directly from federal agencies as well as awards passed through other governmental agencies. Because the schedule presents only a selected portion of the Organization’s operations, it is not intended to, and does not, present the financial position, changes in net assets, or cash flows of the Organization.
The schedule is presented using the accrual basis of accounting. Expenditures are recognized following the cost principles contained in Uniform Guidance in 2 CFR Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types ofexpenditures are not allowable or are limited to reimbursement.
Habitat for Humanity of New Castle County, Inc. has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.