Notes to SEFA
Title: NOTE C PROGRAM COSTS
Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying schedule of federal awards (the Schedule) includes the federal grant activity of theNorwich Housing 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 Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administration Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of the Norwich Housing Authority, it is not intended to and does not present thefinancial position, changes in net position, or cash flows of the Norwich Housing Authority.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement.Pass-through entity identifying numbers are presented where available.All expenditures are direct program expenditures.The Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under theUniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amounts presented as federal expenditures represent only the federal portion of the actual program costs. Actual program costs, including the Norwich Housing Authoritys portion, may be more than is shown on the schedule.