Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Mon Valley Initiative and Related Entities under programs of the federal government for the year ended December 31, 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. Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
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.
For grants applied for after October 1, 2024, the Organization applied the 15% de minimis indirect cost rate. For grants applied for on or before October 1, 2024, the Organization utilized the 10% de minimis indirect cost rate.
$ 479,321 was provided to subrecipients from the Housing Counseling Assistance Program ALN #14.169.
The Schedule includes balances outstanding as of the beginning of the year and loans issued during the year for HOME Investment Partnerships Program and Community Development Block Grants. Loans outstanding as of December 31, 2025 were $ 385,629.