Notes to SEFA
The accompanying schedule of expenditures of federal awards (“the Schedule”) includes the grant activity of Neighborhood Housing Services of Queens CDC, Inc. under programs of the federal government for the year ended December 31, 2025. The information in the 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 Neighborhood Housing Services of Queens CDC, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Neighborhood Housing Services of Queens CDC, Inc.
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.
No indirect costs were charged to the federal award during the year ended December 31, 2025. Neighborhood Housing Services of Queens CDC, Inc. does not currently apply an indirect cost rate to its federal awards.