Notes to SEFA
Accounting Policies: 1.BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal grant activity of the Housing Authority of the City of McAllen (MHA) and is presented on the accrual basis of accounting, which is the same basis as was used to prepare the financial statements. The information in this Schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Programs.2. SUBRECIPIENTSMHA did not provide any federal awards to subrecipients during the year.3.LOANSMHA did not have any loans or loan guarantee programs outstanding at June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.