Notes to SEFA
Title: Basis of Presentation
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.
De Minimis Rate Used: N
Rate Explanation: Harvest Outreach Center, Inc. has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Harvest Outreach Center, Inc. under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the requirements by 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 Harvest Outreach Center, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Harvest Outreach Center, Inc.
Title: Subrecipients
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.
De Minimis Rate Used: N
Rate Explanation: Harvest Outreach Center, Inc. has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
No awards passed through to subrecipients.
Title: Federal Loans
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.
De Minimis Rate Used: N
Rate Explanation: Harvest Outreach Center, Inc. has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Center was approved by the USDA to received loans totaling $925,000 to purchase a building and equipment. The amounts listed for the loans include the proceeds used during the year. The balances owing at the end of the period are $148,193 and $765,659.