Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of Housing Action Illinois (the “Organization”), 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because this schedule presents only a selected portion of the operations of Housing Action Illinois, it is not intended to and does not present the financial position, changes in net assets or cash flows of Housing Action Illinois.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 CFR Part 200, Subpart E – Cost Principles, wherein certain types of expenditures are not allowed or are limited as to reimbursement. Negative amounts shown on the SEFA represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The Organization has elected to use the 15-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Organization provided funding in the amount of $1,697,897 to various sub-recipients primarily located in Illinois and the Midwest area, who provide housing counseling to low-income homeowners, homebuyers, prospective renters, and tenants to improve their housing conditions during the year ended December 31, 2025.
Amount of non-cash assistance None Amount of insurance None Amount of loans None Amount of loan guarantees None