Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Harrison Haven HUD Project No. 123-EE096, 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 Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Harrison Haven, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Harrison Haven.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Harrison Haven has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Harrison Haven has received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Harrison Haven received no additional loans during the year. The balance of the loan outstanding at December 31, 2025 consists of: