Notes to SEFA
Accounting Policies: The schedule is presented using the accrual basis of accounting, the method used to prepare the Housing Authority's basic financial statements. Note 1 B of the Housing Authority's basic financial statements describes the significant accounting policies used by the Housing Authority. such expenses are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenses are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.