Notes to SEFA
Title: General
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recorded when earned. Expenditures under the accrual basis of accounting are recorded when the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: Jasper County Public Housing Agency has elected not to use the 10% de minimus indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal financial assistance programs of the Jasper County Public Housing Agency. All federal financial assistance received both directly and indirectly from federal agencies is included in the schedule.
Title: Relationship to federal financial reports
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recorded when earned. Expenditures under the accrual basis of accounting are recorded when the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: Jasper County Public Housing Agency has elected not to use the 10% de minimus indirect cost rate.
Amounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports.
Title: Subreceipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting. Under the accrual basis of accounting, revenues are recorded when earned. Expenditures under the accrual basis of accounting are recorded when the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: Jasper County Public Housing Agency has elected not to use the 10% de minimus indirect cost rate.
Jasper County Public Housing Agency did not provide federal awards to subrecipients.