Notes to SEFA
Title: BASIS OF PRESENTATION
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, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Agency has not elected to use the 10% de minimis indirect cost rate as
allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule)
includes the federal award activity of the District of Columbia Housing Finance
Agency (the Agency) under programs of the federal government for the year
ended September 30, 2023. 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 the Agency, it is not
intended to and does not present the financial position, changes in net position,
or cash flows of the Agency.
Title: SCOPE OF SINGLE AUDIT PURSUANT TO UNIFORM GUIDANCE
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, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Agency has not elected to use the 10% de minimis indirect cost rate as
allowed under the Uniform Guidance.
All federal financial assistance programs operated by the Agency are included in
the scope of the Uniform Guidance audit. This Single Audit was conducted in
accordance with the provisions of the Office of Management and Budget's
Compliance Supplement.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Agency has not elected to use the 10% de minimis indirect cost rate as
allowed under the Uniform Guidance.
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, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
The Agency has not elected to use the 10% de minimis indirect cost rate as
allowed under the Uniform Guidance.
Title: FISCAL PERIOD AUDIT
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, wherein certain types of expenditures are not
allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Agency has not elected to use the 10% de minimis indirect cost rate as
allowed under the Uniform Guidance.
Single Audit testing procedures were performed for program transactions
occurring during the fiscal year ended September 30, 2023, for the following
major program: