Notes to SEFA
Title: Note 3. Passed Through Awards
Accounting Policies: Note 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Bristol Bay Housing Authority under programs of the federal government for the year ended December 31, 2022. 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Bristol Bay Housing Authority, it is not intended to and does not present the basic financial statements of Bristol Bay Housing Authority.Note 2. Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Bristol Bay Housing Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform guidance.
De Minimis Rate Used: N
Rate Explanation: Bristol Bay Housing Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform guidance.
The following amounts were passed through to subrecipients in their NAHASDA Program:Clarks Point Village Council $23,510Curyung Tribal Council 166,076Ekuk Tribe 13,029New Koliganek Village Council 40,755Ugashik Traditional Council 11,724 Total passed through to subrecipients $255,094