Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Note 2 - Summary of Significant Accounting Policies 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. Hopelink 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: Note 2 - Summary of Significant Accounting Policies 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. Hopelink has elected not to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award
activity of Hopelink under programs of the federal government for the year ended June 30, 2023. 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 Hopelink, it is not intended
to and does not present the financial position, changes in net assets, functional expenses or cash flows of
Hopelink.
Title: Note 3 - Loans Outstanding
Accounting Policies: Note 2 - Summary of Significant Accounting Policies 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. Hopelink 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: Note 2 - Summary of Significant Accounting Policies 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. Hopelink has elected not to use the 10-percent de minimis
indirect cost rate allowed under the Uniform Guidance.
Hopelink had the following loan balances outstanding at June 30, 2023 included in the federal expenditures
presented in the Schedule.