Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Note 2 Summary of Significant Accounting Policies - Expenditures reported in the Schedule are reported on the accrual basis of accounting. See Note B of the notes to the consolidated financial statements for Habitats significant accounting policies. These expenditures are reported on Habitats fiscal year-end, which is from January 1, 2022 to December 31, 2022. Expenditure reports to funding agencies are prepared based on award periods. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Habitat has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. See last sentence in above note.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Fort Worth Area Habitat for Humanity, Inc. dba Trinity Habitat for Humanity (Habitat) under programs of the federal government for the year ended December 31, 2022. 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). Because the Schedule presents only a selected portion of the operations of Habitat, it is not intended to, and does not, present the financial position, changes in financial position, or cash flows of Habitat.
Title: Note 3 - Relationship to the Basic Financial Statements
Accounting Policies: Note 2 Summary of Significant Accounting Policies - Expenditures reported in the Schedule are reported on the accrual basis of accounting. See Note B of the notes to the consolidated financial statements for Habitats significant accounting policies. These expenditures are reported on Habitats fiscal year-end, which is from January 1, 2022 to December 31, 2022. Expenditure reports to funding agencies are prepared based on award periods. Such expenditures are recognized following the cost principles in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Habitat has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. See last sentence in above note.
Federal and state awards revenues are reported in Habitats basic financial statements as follows: See notes to SEFA for chart/table.