Title: Note 3: RELATIONSHIP TO BASIC FINANCIAL STATEMENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal awards programs of the Housing Authority of the City of Bossier City, Louisiana (the “Housing Authority”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Housing Authority, it is not intended to and does not represent the financial position of the Housing Authority.
In accordance with HUD Notice PIH 98-14, “federal awards” do not include the Housing Authority’s operating income from rents or investments (or other non-federal sources). In addition, the entire amount of operating subsidies received during the fiscal year is considered to be “expended” during the fiscal year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Federal award expenditures are reported in the Housing Authority’s basic financial statements as follows: Federal Grants $2,372,895 Capital Contributions 203,426 Total Expenditures of Federal Awards $2,576,321.
Title: Note 4: LOAN/LOAN GUARANTEE OUTSTANDING BALANCES
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal awards programs of the Housing Authority of the City of Bossier City, Louisiana (the “Housing Authority”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Housing Authority, it is not intended to and does not represent the financial position of the Housing Authority.
In accordance with HUD Notice PIH 98-14, “federal awards” do not include the Housing Authority’s operating income from rents or investments (or other non-federal sources). In addition, the entire amount of operating subsidies received during the fiscal year is considered to be “expended” during the fiscal year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Housing Authority did not have any federal loans or loan guarantees outstanding during the year ended June 30, 2023.
Title: Note 5: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal awards programs of the Housing Authority of the City of Bossier City, Louisiana (the “Housing Authority”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Housing Authority, it is not intended to and does not represent the financial position of the Housing Authority.
In accordance with HUD Notice PIH 98-14, “federal awards” do not include the Housing Authority’s operating income from rents or investments (or other non-federal sources). In addition, the entire amount of operating subsidies received during the fiscal year is considered to be “expended” during the fiscal year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During the year ended June 30, 2023, the Housing Authority had no subrecipients.
Title: Note 6: NONCASH ASSISTANCE AND OTHER
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal awards programs of the Housing Authority of the City of Bossier City, Louisiana (the “Housing Authority”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Housing Authority, it is not intended to and does not represent the financial position of the Housing Authority.
In accordance with HUD Notice PIH 98-14, “federal awards” do not include the Housing Authority’s operating income from rents or investments (or other non-federal sources). In addition, the entire amount of operating subsidies received during the fiscal year is considered to be “expended” during the fiscal year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Housing Authority did not receive any noncash assistance or federally funded insurance during the year ended June 30, 2023.
Title: Note 7: CONTINGENCIES
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of all federal awards programs of the Housing Authority of the City of Bossier City, Louisiana (the “Housing Authority”) and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Housing Authority, it is not intended to and does not represent the financial position of the Housing Authority.
In accordance with HUD Notice PIH 98-14, “federal awards” do not include the Housing Authority’s operating income from rents or investments (or other non-federal sources). In addition, the entire amount of operating subsidies received during the fiscal year is considered to be “expended” during the fiscal year.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Grant monies received and disbursed by the Housing Authority are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, Housing Authority does not believe that such disallowance, if any, would have a material effect on the financial position of the Housing Authority.