Notes to SEFA
The accompanying schedule of expenditures of federal awards, state financial assistance and other awards (the Schedule) includes the federal, state and other award activity of Ability Housing, Inc. and Affiliates under programs of the federal and state governments 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 (Uniform Guidance) and as described in Chapter 10.650, Rules of the Auditor General (State of Florida Single Audit Act). Because the Schedule presents only a selected portion of the operations of Ability Housing, Inc. and Affiliates, it is not intended to and does not present the consolidated 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, as applicable, the cost principles contained in the Uniform Guidance. Ability Housing, Inc. and Affiliates has elected not to use the 15% de minimis indirect cost rate allowed under the Uniform Guidance.