Title: NOTE 1: BASIS OF ACCOUNTING
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Housing Authority's financial statements for the year ended June 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent (10%) de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Housing Authority's financial statements for the year ended June 30, 2023.
Title: NOTE 2: PROGRAM COSTS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Housing Authority's financial statements for the year ended June 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent (10%) de minimis indirect cost rate.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Housing Authority's portion, are more than shown. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Title: NOTE 3: LOANS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Housing Authority's financial statements for the year ended June 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent (10%) de minimis indirect cost rate.
The Housing Authority did not expend federal awards related to loans or loan guarantees during the year ended June 30, 2023.
Title: NOTE 4: FEDERALLY FUNDED INSURANCE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Housing Authority's financial statements for the year ended June 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent (10%) de minimis indirect cost rate.
The Housing Authority has no federally funded insurance.
Title: NOTE 5: NONCASH ASSISTANCE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Housing Authority's financial statements for the year ended June 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent (10%) de minimis indirect cost rate.
The Housing Authority did not receive any federal noncash assistance for the year ended June 30, 2023.
Title: NOTE 6: INDIRECT COST RATE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Housing Authority's financial statements for the year ended June 30, 2023.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent (10%) de minimis indirect cost rate.
The Housing Authority did not elect to use the 10 percent (10%) de minimis indirect cost rate.