Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards (the "Schedule")are reported on the accrual basis of accounting. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance, wherein certain types of expenditures are not allowable orare limited as to reimbursement. Negative amounts shown on the Schedule represent adjustments orcredits made in the normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Schedule includes the federal award activity of the Stevens County Housing and RedevelopmentAuthority under programs of the federal government for the year ended December 31, 2022. Theinformation in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of the Authority, it is not intended to and does not present the financial position,changes in net position, or cash flows of the Authority.