Notes to SEFA
Accounting Policies: Notes to the Schedule of Expenditures of Federal AwardsNote 1: Basis of PresentationNote 2: Summary of Significant Accounting PoliciesTheaccompanyingscheduleofexpendituresoffederalawardsincludesthefederalgrantactivityofGrahamHousingAuthorityandispresentedontheaccrualbasisofaccounting.TheinformationinthescheduleispresentedinaccordancewiththerequirementsofTitle2U.S.CodeofFederalRegulations(CFR)Part200,UniformAdministrativeRequirements,CostPrinciples,andAuditRequirementsforFederalAwards(UniformGuidance).Thereforesomeamountspresentedinthisschedulemaydifferfrom amounts presented in, or used in the preparation of the basic financial statements.Graham Housing AuthoritySchedule of Expenditures of Federal AwardsFor the Fiscal Year Ended December 31, 2022Expenditures reported in the SEFA are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Authority has elected not tu use the 10% de minimis indirect rate allowed under Uniform Guidance.42
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.