Title: HOUSING CHOICE VOUCHER CLUSTER
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Authority under programs of the federal government for the year ended March 31, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
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. For loans, the value of noncash awards expended is equal to the amount of loan proceeds expended plus the year-end balance of loans from previous years for which
the federal government imposes continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Authority received $41,115,780 in federal funding for the Section 8 Housing Choice Voucher Program (ALN 14.871), $104,425 for Mainstream (ALN 14.879), and $573,830 for Emergency Housing Voucher (ALN 14.871) during the year. The Authority reported $43,269,165, $239,910, and $1,037,518 in expenditures on a full accrual basis for the Section 8 Housing Choice Voucher Program, Mainstream, and Emergency Housing Voucher, respectively, during the year, which were paid with federal and nonfederal funds.
The Authority reported $72,245 in Port-In Housing Assistance Payments during the fiscal year.
Title: PUBLIC AND INDIAN HOUSING
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Authority under programs of the federal government for the year ended March 31, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
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. For loans, the value of noncash awards expended is equal to the amount of loan proceeds expended plus the year-end balance of loans from previous years for which
the federal government imposes continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Authority received $634,973 in federal funding for the Public and Indian Housing Program (ALN 14.850) during the year. The Authority reported $2,003,238 in expenditures on a full accrual basis for the Public and Indian Housing Program during the year. Expenses were paid for by current year HUD funding, tenant rent, other sources of Public Housing revenue, and prior year reserves.
Title: SECTION 8 HOUSING ASSISTANCE PAYMENT PROGRAM
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Authority under programs of the federal government for the year ended March 31, 2023. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
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. For loans, the value of noncash awards expended is equal to the amount of loan proceeds expended plus the year-end balance of loans from previous years for which
the federal government imposes continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Authority received $1,439,843 in federal funding for the Section 8 Housing Assistance Payment Program (ALN 14.195) during the year. The Authority reported $3,410,760 in
expenditures on a full accrual basis for the Section 8 Housing Assistance Payment Program during the year, which were paid for by current year HUD funding, tenant rent, and prior year
reserves.