Notes to SEFA
Title: Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”)
includes the federal grant activity of the Housing Commission under programs of the federal government
for the year ended March 31, 2023
De Minimis Rate Used: N
Rate Explanation: None of the federal expenditures presented in the schedule were provided to subrecipients.
The accompanying schedule of expenditures of federal awards (the “Schedule”)
includes the federal grant activity of the Housing Commission under programs of the federal government
for the year ended March 31, 2023. Expenditures reported on the Schedule are reported on the same basis
of accounting as the basic financial statements, although the basis for determining when federal awards are
expended is presented in accordance with the requirements of the Uniform Guidance, Audit of States, Local
Governments, and Non-Profit Organizations. In addition, expenditures reported on the Schedule are
recognized following the cost principles contained in Single Audit Act Amendments of 1996 and Title 2
U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles,
and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures
are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this Schedule
may differ from amounts presented in, or used in the preparation of the financial statements.
Because the Schedule presents only a selected portion of the operations of the Housing Commission, it is
not intended to and does not present the financial position, changes in net assets, or cash flows, if applicable,
of the Housing Commission.
Title: Indirect Cost Rate
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”)
includes the federal grant activity of the Housing Commission under programs of the federal government
for the year ended March 31, 2023
De Minimis Rate Used: N
Rate Explanation: None of the federal expenditures presented in the schedule were provided to subrecipients.
The Housing Commission did not elect to use the 10 percent de minimis indirect cost
rate as allowed under the Uniform Guidance
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards (the “Schedule”)
includes the federal grant activity of the Housing Commission under programs of the federal government
for the year ended March 31, 2023
De Minimis Rate Used: N
Rate Explanation: None of the federal expenditures presented in the schedule were provided to subrecipients.
None of the federal expenditures presented in the schedule were provided to subrecipients.