Title: Schedule Not in Agreement with Other Federal Awards Reporting
Accounting Policies: asis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Puerto Rico Housing Finance Authority (the Authority) and 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). The Authority's government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, which conform to accounting principles
generally accepted in the United States of America. The accounts of the Authority are presented based on funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, deferred inflows, liabilities, and deferred outflows, fund balance/net position, revenues, and expenditures/expenses. Government resources are allocated to and accounted for by individual funds
based upon the purposes for which they are to be spent and how spending activities are controlled. Governmental funds are used to account for the same functions reported as governmental activities
in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of
expendable resources, as well as balances of expendable resources available at the end of the fiscal year. 2. Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost Principles, wherein certain types of expenditures are not allowable or are limited to reimbursement
De Minimis Rate Used: N
Rate Explanation: For the purpose of charging indirect costs to a federal award, the Authority has elected not to use the 10-percent de minimis indirect cost rate, nor prepared or submitted an indirect cost proposal as permitted by CFR 200.414 of the Uniform Guidance.
The information included in the Schedule may not fully agree with other federal awards reports, submitted directly to the federal grantor agency because, among other reasons, the award report may (a) be prepared for a different fiscal period and (b) include cumulative data (from prior years) rather than data from the current year only.
Title: Assistance Listing Number
Accounting Policies: asis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Puerto Rico Housing Finance Authority (the Authority) and 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). The Authority's government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, which conform to accounting principles
generally accepted in the United States of America. The accounts of the Authority are presented based on funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, deferred inflows, liabilities, and deferred outflows, fund balance/net position, revenues, and expenditures/expenses. Government resources are allocated to and accounted for by individual funds
based upon the purposes for which they are to be spent and how spending activities are controlled. Governmental funds are used to account for the same functions reported as governmental activities
in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of
expendable resources, as well as balances of expendable resources available at the end of the fiscal year. 2. Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost Principles, wherein certain types of expenditures are not allowable or are limited to reimbursement
De Minimis Rate Used: N
Rate Explanation: For the purpose of charging indirect costs to a federal award, the Authority has elected not to use the 10-percent de minimis indirect cost rate, nor prepared or submitted an indirect cost proposal as permitted by CFR 200.414 of the Uniform Guidance.
The Assistance Listing Number is a program identification number presented for programs in which such numbers are available. The first two digits identify the federal department or agency that administers the program, and the last three numbers are assigned by numerical sequence.
Title: Relationship to the Financial Statements
Accounting Policies: asis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Puerto Rico Housing Finance Authority (the Authority) and 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). The Authority's government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, which conform to accounting principles
generally accepted in the United States of America. The accounts of the Authority are presented based on funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, deferred inflows, liabilities, and deferred outflows, fund balance/net position, revenues, and expenditures/expenses. Government resources are allocated to and accounted for by individual funds
based upon the purposes for which they are to be spent and how spending activities are controlled. Governmental funds are used to account for the same functions reported as governmental activities
in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of
expendable resources, as well as balances of expendable resources available at the end of the fiscal year. 2. Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost Principles, wherein certain types of expenditures are not allowable or are limited to reimbursement
De Minimis Rate Used: N
Rate Explanation: For the purpose of charging indirect costs to a federal award, the Authority has elected not to use the 10-percent de minimis indirect cost rate, nor prepared or submitted an indirect cost proposal as permitted by CFR 200.414 of the Uniform Guidance.
A reconciliation of total expenditures related to federal programs included in the statement of revenues, expenditures, and changes in fund balances - governmental funds and the statement of revenues, expenses, and changes in net position – proprietary funds to total expenditures included in the schedule of expenditures of federal awards is as follows:
Title: Relationship to the Financial Statements
Accounting Policies: asis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Puerto Rico Housing Finance Authority (the Authority) and 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). The Authority's government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, which conform to accounting principles
generally accepted in the United States of America. The accounts of the Authority are presented based on funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, deferred inflows, liabilities, and deferred outflows, fund balance/net position, revenues, and expenditures/expenses. Government resources are allocated to and accounted for by individual funds
based upon the purposes for which they are to be spent and how spending activities are controlled. Governmental funds are used to account for the same functions reported as governmental activities
in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of
expendable resources, as well as balances of expendable resources available at the end of the fiscal year. 2. Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost Principles, wherein certain types of expenditures are not allowable or are limited to reimbursement
De Minimis Rate Used: N
Rate Explanation: For the purpose of charging indirect costs to a federal award, the Authority has elected not to use the 10-percent de minimis indirect cost rate, nor prepared or submitted an indirect cost proposal as permitted by CFR 200.414 of the Uniform Guidance.
Major Funds:HUD Programs $135,304,162 HOME Programs 5,238,390 Community Development Block Grant - Disaster Recovery 107,226,985 Homeowner Assistance Fund 29,993,786 Less: Performance Based Contract Administrator Program (CFDA 14.327) excluded from coverage under Uniform Guidance 135,304,162 Total expenditures in schedule of expenditures of federal awards $142,459,161
Title: Pass through
Accounting Policies: asis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Puerto Rico Housing Finance Authority (the Authority) and 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). The Authority's government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, which conform to accounting principles
generally accepted in the United States of America. The accounts of the Authority are presented based on funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, deferred inflows, liabilities, and deferred outflows, fund balance/net position, revenues, and expenditures/expenses. Government resources are allocated to and accounted for by individual funds
based upon the purposes for which they are to be spent and how spending activities are controlled. Governmental funds are used to account for the same functions reported as governmental activities
in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term inflows and outflows of
expendable resources, as well as balances of expendable resources available at the end of the fiscal year. 2. Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost Principles, wherein certain types of expenditures are not allowable or are limited to reimbursement
De Minimis Rate Used: N
Rate Explanation: For the purpose of charging indirect costs to a federal award, the Authority has elected not to use the 10-percent de minimis indirect cost rate, nor prepared or submitted an indirect cost proposal as permitted by CFR 200.414 of the Uniform Guidance.
No federal grant dollar has been passed through to subrecipient