Notes to SEFA
Accounting Policies: The accompanying consolidated schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Salt Lake Neighborhood Housing Services, Inc. dba NeighborWorks? Salt Lake (the Organization) under programs of the federal government for the year ended June 30, 2022. The information in this schedule is presented in accordance with the requirements of the 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 the Organization, it is not intended to, and does not present the financial position, changes in net assets or cash flows of Organization. Expenditures reported on the schedule are reported on the accrual basis of accounting. When applicable, 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 federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate; however, generally the Organization does not draw federal funds for administrative costs.