Notes to SEFA
Title: NOTE C – PROGRAM COSTS
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The accompanying schedule of federal awards (the Schedule) includes the federal grant activity of
the Housing Authority of the Town of Glastonbury under programs of the federal government for the
year ended June 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 Administration
Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
Because the Schedule presents only a selected portion of the operations of the Housing Authority of
the Town of Glastonbury, it is not intended to and does not present the financial position, changes
in net position, or cash flows of the Housing Authority of the Town of Glastonbury.
1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in Uniform Guidance, wherein
certain types of expenditures are not allowable or are limited as to reimbursement.
2) Pass-through entity identifying numbers are presented where available.
3) All expenditures are direct program expenditures.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under
the Uniform Guidance.
The amounts presented as federal expenditures represent only the federal portion of the actual program costs. Actual program costs, including the Housing Authority of the Town of Glastonbury’s portion, may be more than is shown on the schedule.