Notes to SEFA
Title: A
Accounting Policies: Note B – 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. Homeless No More, Inc. 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: Expenditures incurred in connections with the Project operations are summarized on a functional basis; Program sevices and Supporting services. Expenses directly attributable to a specific funtional activity are reported as expenses of those functional activites.
Basis Of Presentation-The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Homeless No More, Inc., HUD Project No. 122-HD085-WDD-NP, 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 Homeless No More, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Homeless No More, Inc.
Title: B
Accounting Policies: Note B – 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. Homeless No More, Inc. 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: Expenditures incurred in connections with the Project operations are summarized on a functional basis; Program sevices and Supporting services. Expenses directly attributable to a specific funtional activity are reported as expenses of those functional activites.
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. Homeless No More, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: C
Accounting Policies: Note B – 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. Homeless No More, Inc. 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: Expenditures incurred in connections with the Project operations are summarized on a functional basis; Program sevices and Supporting services. Expenses directly attributable to a specific funtional activity are reported as expenses of those functional activites.
U.S. Department of Housing and Urban Development Loan Program-Homeless No More, Inc. has received a U.S. Department of Housing and Urban Development direct loan under Section 811 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the schedule. Homeless No More, Inc. received no additional loans during the year. The balance of the loan outstanding at December 31, 2022 consists of: "See the Notes to the SEFA for chart/table"