Notes to SEFA
Accounting Policies: NOTE 1: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal award activity of the Chillicothe Metropolitan Housing Authority under programs of the
federal government for the year ended September 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 Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance). Because the Schedule presents only a selected portion of the operations of
Chillicothe Metropolitan Housing Authority, it is not intended to and does not present the
financial position, changes in net position, or cash flows of Chillicothe Metropolitan Housing
Authority.
NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the GAAP 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.
NOTE 3: INDIRECT COST RATE
Chillicothe Metropolitan Housing Authority has e 10 percent de-minimis
indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A