Title: Loans Outstanding
Accounting Policies: The accompanying schedule of expenditures of Federal Awards includes the Federal Grant activity of Tule River Indian Housing Authority and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent de minimis indirect cost rate as allowed under the OMB Uniform Guidance.
The Tule River Indian Housing Authority had no outstanding federal loan balances at June 30, 2023.
Title: Loan Guarantees
Accounting Policies: The accompanying schedule of expenditures of Federal Awards includes the Federal Grant activity of Tule River Indian Housing Authority and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent de minimis indirect cost rate as allowed under the OMB Uniform Guidance.
The Tule River Housing Authority received a Title VI Loan Guarantee in fiscal year 2021 for $1,733,527 (95% of the remaining loan amount of $1,824,765). In fiscal year 2023, principal payments were made leaving the remaining loan balance of $1,422,829 at June 30, 2023.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of Federal Awards includes the Federal Grant activity of Tule River Indian Housing Authority and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent de minimis indirect cost rate as allowed under the OMB Uniform Guidance.
The Tule River Indian Housing Authority provided no federal awards to subrecipients during the fiscal year ended June 30, 2023.
Title: Reconciliation of Reported Expenditures to Financial Statement Totals
Accounting Policies: The accompanying schedule of expenditures of Federal Awards includes the Federal Grant activity of Tule River Indian Housing Authority and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent de minimis indirect cost rate as allowed under the OMB Uniform Guidance.
The following is a reconciliation of total federal expenditures reported on the Schedule of Expenditures of Federal Awards to the federal grant revenue total reported on the Housing Authority’s Statement of Revenues, Expenses, and Changes in Net Position for the year ending June 30, 2023: Federal Expenditures per SEFA $ 7,846,018. Federal Revenues per Financials $7,846,018.