Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Housing Partnership, Inc. under programs of the federal government for the year ended September 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 Housing Partnership, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Housing Partnership, Inc.
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.
All federal grant operations of Housing Partnership, Inc. are included in the scope of the Uniform Guidance. Programs tested as major federal programs included awards from the U.S. Department of Justice with fiscal year 2025 expenditures totaling $678,620. Programs tested ensure coverage of at least 40 percent of federally granted funds. Actual coverage is approximately 56 percent of total federal award program expenditures.
Housing Partnership, Inc. has elected not to use the 15% de minimis indirect cost allowed under the Uniform Guidance.
Housing Partnership, Inc. received funding from NeighborWorks® America, a congressionally chartered nonprofit organization that receives federal appropriations. NeighborWorks® America does not assign Assistance Listing Numbers (ALN) to its programs. In accordance with grantor guidance, Housing Partnership, Inc. has reported such funding in the Schedule of Expenditures of Federal Awards using the applicable Public Law number associated with the federal appropriation for the year in which the funds were received (e.g., ALN 119-400). Management has determined that these funds represent federal awards for purposes of reporting under Uniform Guidance (2 CFR Part 200).