Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of St. Peter's Supportive Housing, Inc. 121-HD089-NP-WDD, 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). Because the Schedule presents only a selected portion of the operations of St. Peter's Supportive Housing, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of St. Peter's Supportive Housing, Inc.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principals contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
St. Peter's Supportive Housing, Inc. has elected not to use the 15% de minimis indirect cost rate allowed under Uniform Guidance.
St. Peter's Supportive Housing, Inc. has received a capital advance under the Section 811 Capital Advance program. The full amount received under the capital advance of $2,679,400 is included in the federal expenditures presented on the Schedule.
St. Peter's Supportive Housing, Inc. has received a loan under the HOME Investment Partnership program. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. The loan balance as of December 31, 2025, is $1,390,031.