Notes to SEFA
The accompanying schedule of expenditures of federal awards and state financial assistance (the “Schedule”) includes the federal and state grant activity of Clearwater Neighborhood Housing Services, Inc. and Subsidiaries d/b/a Tampa Bay Neighborhood Housing Services (the “Organization”), under programs of the federal and state 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 (“CFR”) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”) and Chapter 10.650, Rules of the Auditor General (“Chapter 10.650”). Because the Schedule presents only a selected portion of the operations of the Organization, 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 the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards and Chapter 10.650, Rules of the Auditor General wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Organization has elected to not use the up to 15% de minimis cost rate as allowed under the Uniform Guidance.
The Organization has the following loan balances at September 30, 2025: