Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal financial assistance programs of ACTION-Housing, Inc. and Subsidiaries (the Organization). The Organization’s reporting entity is defined in Note 1 – Organization to the consolidating financial statements.
The accompanying Schedule is presented using the accrual basis of accounting, which is described in Note 2 – Summary of Significant Accounting Policies to the consolidating financial statements of the Organization. Federal financial assistance revenues are recognized in the consolidating financial statements as support and revenues.
The Organization did not use the de minimis cost rate during the year ended June 30, 2025.