Notes to SEFA
Accounting Policies: NOTE 1: BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes thefederal award activity of the Zanesville Metropolitan Housing Authority under programs of theFederal government for the year ended December 31, 2022. The information in this Scheduleis presented in accordance with the requirements of Title 2 U.S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Because the Schedule presents only a selected portionof the operations of Zanesville Metropolitan Housing Authority, it is not intended to and doesnot present the financial position, changes in net position, or cash flows of ZanesvilleMetropolitan Housing Authority.NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the GAAP basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance,wherein certain types of expenditures are not allowable or are limited as to reimbursement.NOTE 3: INDIRECT COST RATEZanesville Metropolitan Housing Authority has elected not to use the 10 percent de minimisindirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.