Title: HOUSING CHOICE VOUCHER CLUSTER
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe 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, 2022. 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 auditee did not use the de minimis cost rate.
The Authority received $43,103,578 in federal funding for the Section 8 Housing ChoiceVoucher Program (ALN 14.871), $293,027 for HCV CARES Act Funding (ALN 14.871),$237,330 for Mainstream (ALN 14.879), and $749,551 for Emergency Housing Voucher(ALN 14.871) during the year. The Authority reported $42,166,202, $293,027, $168,053,and $279,970 in expenditures on a full accrual basis for the Section 8 Housing ChoiceVoucher Program, HCV CARES Act Funding, Mainstream, and Emergency HousingVoucher, respectively, during the year, which were paid with federal and nonfederal funds. The Authority reported $665,420 in Port-In Housing Assistance Payments during the fiscal year.
Title: PUBLIC AND INDIAN HOUSING
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe 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, 2022. 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 auditee did not use the de minimis cost rate.
The Authority received $604,148 in federal funding for the Public and Indian HousingProgram (ALN 14.850) during the year. The Authority reported $1,299,990 in expenditureson 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 POLICIESThe 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, 2022. 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 auditee did not use the de minimis cost rate.
The Authority received $1,435,922 in federal funding for the Section 8 Housing Assistance Payment Program (ALN 14.195) during the year. The Authority reported $3,032,972 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.