Notes to SEFA
Title: NOTE C – PROGRAM COSTS
Accounting Policies: The accompanying schedule of federal awards (the Schedule) includes the federal grant activity of
the Killingly Housing Authority under programs of the federal government for the year ended June
30, 2023. The information in this Schedule is presented in accordance with the requirements of
Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule
presents only a selected portion of the operations of the Killingly Housing Authority, it is not
intended to and does not present the financial position, changes in net position, or cash flows of
the Killingly Housing Authority.
Expenditures reported on the Schedule 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.
Pass-through entity identifying numbers are presented where available. All expenditures are direct
program expenditures.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The amounts presented as federal expenditures represent only the federal portion of the actual program
costs. Actual program costs, including the Killingly Housing Authority’s portion, may be more than is
shown on the schedule.