Notes to SEFA
Title: NOTE 3
Accounting Policies: The accompanying schedule of expenditures of federal awards includes federal grant activity of the Housing Authority of the City of Biloxi, Mississippi and is presented on the accrual basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended December 31, 2022, the Authority had no sub-recipients.
Title: NOTE 4
Accounting Policies: The accompanying schedule of expenditures of federal awards includes federal grant activity of the Housing Authority of the City of Biloxi, Mississippi and is presented on the accrual basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Authority did not receive any noncash assistance, federal loans, or federally funded insurance during the year ended December 31, 2022.