Notes to SEFA
Title: NOTE 1 – BASIS OF PRESENTATION
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 2 of Habitat’s
financial statements.
De Minimis Rate Used: N
Rate Explanation: Habitat has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (“SEFA”) presents the activity of all federal award
programs of the Habitat for Humanity Greater Fresno Area federal awards received directly from federal agencies, as well
as federal awards passed through other government agencies are included in the schedule. The information in this SEFA 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).
Title: NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 2 of Habitat’s
financial statements.
De Minimis Rate Used: N
Rate Explanation: Habitat has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 2 of Habitat’s financial statements
Title: NOTE 3 – INDIRECT COST RATE
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 2 of Habitat’s
financial statements.
De Minimis Rate Used: N
Rate Explanation: Habitat has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Habitat has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.