Notes to SEFA
Title: Reporting 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 Montpelier Housing Authority has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards has been prepared following the guidance provided by the U.S. Authority of Housing and Urban Development’s Real Estate Assessment Center (REAC).