Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Asheville Area Habitat for Humanity, Inc. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: See above.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Asheville Area Habitat for Humanity, Inc. under the programs of the federal government for the year ended June 30, 2023. The information in this SEFA is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of Asheville Area Habitat for Humanity, Inc., it is not intended to and does not present the financial position, changes in net position, or cash flows of Asheville Area Habitat for Humanity, Inc.