Notes to SEFA
Title: Indirect Cost Rate
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 and/or OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
THP has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform
Guidance.
Title: HOME Investment Partnerships Program Loan
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 and/or OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
To assist in the acquisition and construction of a new affordable housing development for single parents recovering from addiction, THP obtained a forgivable loan from the Louisville/Jefferson County Metro Government’s Department of Housing and Family Services under the HOME Investment Partnerships Program in May 2008. The loan is forgivable through May 2028, provided that the property maintains a
certain number of units for individuals recovering from addiction. As determined by the 2 CFR Section 200.502(b), the federal expenditure amount of $320,000 represents the outstanding forgivable loan balance as of January 1, 2022. The outstanding forgivable loan balance as of December 31, 2022 is
$280,000.