Audit 19331

Accounting Policies: This schedule includes the federal grant activity of the Housing Authority of the City of Stuart, Florida and is presented on the full accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance (Title 2 U.S. Code of Federal Regulations (CFR), Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the basic financial statements. The Authority has not elected to use the 10% deminimis cost rate. In accordance with HUD regulations, HUD considers the Annual Budget Authority for the Section 8 Housing Choice Vouchers program (HCV) to be an expenditure for the purposes of this schedule. Therefore, the amount in this schedule is the total amount received directly from HUD and not the total expenditures paid by the Authority. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.