Audit 19357

Title: Note 3 PROGRAM COSTS: Accounting Policies: Note 1 BASIS OF ACCOUNTING - SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS: The schedule of expenditures of federal awards is prepared on the same basis of accounting as the Housing Authority of Asotin County's financial statements. The schedule of expenditures of federal awards includes grant and loan activity of the Housing Authority of Asotin County and is presented on the accrual basis of accounting. However, loans received in the prior year and still outstanding are to be considered federal expenditures for the purpose of this schedule. The information in this schedule is presented in accordance with the requirements of 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. De Minimis Rate Used: N Rate Explanation: Note 2 De Minimus Indirect Cost Rate: The Housing Authority of Asotin County has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance. The amounts shown as current year expenditures represent only federal grant portions of the program costs. Entire program costs, including the Authority's portion, may be 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.

Title: Note 4 HOUSING CHOICE VOUCHER AND PUBLIC HOUSING PROGRAM EXPENDITURES: Accounting Policies: Note 1 BASIS OF ACCOUNTING - SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS: The schedule of expenditures of federal awards is prepared on the same basis of accounting as the Housing Authority of Asotin County's financial statements. The schedule of expenditures of federal awards includes grant and loan activity of the Housing Authority of Asotin County and is presented on the accrual basis of accounting. However, loans received in the prior year and still outstanding are to be considered federal expenditures for the purpose of this schedule. The information in this schedule is presented in accordance with the requirements of 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. De Minimis Rate Used: N Rate Explanation: Note 2 De Minimus Indirect Cost Rate: The Housing Authority of Asotin County has elected not to use the 10 percent de minimus indirect cost rate allowed under the Uniform Guidance. As required by the granting agency, the amounts shown on the schedule for the Public and Indian Housing Program (CFDA #14.850, Grant #WA017-00000116D) and Section 8 Housing Choice Voucher Program (CFDA #14.871, Grant #Wa017AFR116) represent the amounts awarded to the Authority. Actual expenditures of the grant during the period were $1,200,502 and $1,342,816, respectively.