Notes to SEFA
Title: NOTE 2-PROGRAM COSTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of the Housing Authority of Grays Harbor County and is presented on the accrual basis of accounting, which is the same basis of accounting the Housing Authority uses for the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
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. Such expenditures are recognized following, as applicable, either the cost principles in the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.