Notes to SEFA
Accounting Policies: 1. BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award
activity of Hocking Metropolitan Housing Authority (the Authority) under programs of the federal
government for the year ended December 31, 2022. The information on this Schedule is prepared 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 the Authority, it
is not intended to and does not present the financial position, changes in net position, or cash flows of the
Authority.
2. SUMMARY OF SIGNIFICANT 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 Uniform Guidance, wherein certain types of
expenditures may or may not be allowable or may be limited as to reimbursement.
3. INDIRECT COST RATE
The Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A