Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Mosaic Community Development d/b/a inCOMMON Community Development and Affiliates and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. The entity has elected not to use the 15% de minimis indirect cost rate, as allowed under the Uniform Guidance.
The threshold of Type A and Type B programs was $1,000,000 for the year ended December 31, 2025.
ALN Program Name__________________________________ 21.027 2022 Qualified Census Tract Affordable Housing Program (Metropolitan Class) - COVID-19
The expenditures reported on the accompanying Schedule of Expenditures of Federal Awards (SEFA) are reflected within the Organization’s consolidated financial statements. At year-end, a portion of the federal expenditures related to development activities is included in construction in progress (CIP) within the consolidated statements of financial position. Additionally, expenditures associated with a separate development project are reflected as part of a related party receivable balance at year-end. This treatment is the result of the deconsolidation of the affiliated entity associated with the second development project during the year. Accordingly, such amounts are not presented as expenses in the current year consolidated statement of activities and changes in net assets but are included in the SEFA in accordance with Uniform Guidance requirements. A reconciliation of total federal expenditures reported on the SEFA to the amounts included in the financial statements is as follows: Expenditures included in CIP $ 454,708 Expenditures included in related party receivable 1,349,144 Total Federal Expenditures per SEFA $ 1,803,852