Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of Ohio Capital Corporation for Housing and its Subsidiaries and Affiliates (the "Organization" or "OCCH"), 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 (the "Uniform Guidance"). Because the Schedule presents only a selected portion of the operations of OCCH, it is not intended to and does not present the financial position, changes in net assets, or cash flows of OCCH.
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.
OCCH has not elected to use the de minimus indirect cost rate as allowed under the Uniform Guidance.