Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Episcopal Housing Corporation dba Finlay House 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, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Expenditures reported on the Schedule are reported 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.
Episcopal Housing Corporation dba Finlay House has elected not to use the 15 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Episcopal Housing Corporation dba Finlay House has received a U.S. Department of Housing and Urban Development Section 241 pursuant to Section 223(a)(7) Mortgage. The balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Episcopal Housing Corporation dba Finlay House received no additional loans during the year. The balance of the Section 241 pursuant to Section 223(a)(7) Mortgage at December 31, 2025 is $191,116.