Audit 308250

Title: Basis of Accounting Accounting Policies: The accompanying schedule presents the expenditures incurred (and related awards received) by the Authority that are reimbursable under federal programs of federal agencies providing financial assistance and state awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal or state funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. Scope of Presentation The accompanying schedule presents the expenditures incurred (and related awards received) by the New Rochelle Municipal Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance and state awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal or state funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. Basis of Accounting The expenditures included in the accompanying schedule were reported on the accrual basis of accounting. Expenditures are recognized in the accounting period in which the related liability isincurred. Expendituresreported included any property or equipment acquisitionsincurred underthe federal program. The information in thisschedule is presented in accordance with the requirements of Uniform Guidance, Audit of States, Local Governments, andNon‐ Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. Subrecipients During the fiscal year ended June 30, 2023, New Rochelle Municipal Housing Authority disbursed no Federal fundsto subrecipients. Indirect Cost Rate The Authority elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414. De Minimis Rate Used: N Rate Explanation: The Authority elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414. The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Authority and is presented on the accrual basis of accounting. Therefore, the amounts presented in this schedule are presented, or used in the preparation of the basic financial statements.

Title: Scope of Presnetation Accounting Policies: The accompanying schedule presents the expenditures incurred (and related awards received) by the Authority that are reimbursable under federal programs of federal agencies providing financial assistance and state awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal or state funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. Scope of Presentation The accompanying schedule presents the expenditures incurred (and related awards received) by the New Rochelle Municipal Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance and state awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal or state funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. Basis of Accounting The expenditures included in the accompanying schedule were reported on the accrual basis of accounting. Expenditures are recognized in the accounting period in which the related liability isincurred. Expendituresreported included any property or equipment acquisitionsincurred underthe federal program. The information in thisschedule is presented in accordance with the requirements of Uniform Guidance, Audit of States, Local Governments, andNon‐ Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. Subrecipients During the fiscal year ended June 30, 2023, New Rochelle Municipal Housing Authority disbursed no Federal fundsto subrecipients. Indirect Cost Rate The Authority elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414. De Minimis Rate Used: N Rate Explanation: The Authority elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414. The accompanying schedule presents the expenditures incurred (and related awards received) by the Authority that are reimbursable under federal programs of federal agencies providing financial assistance and state awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal or state funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule.

Title: Indirect Cost Rate Accounting Policies: The accompanying schedule presents the expenditures incurred (and related awards received) by the Authority that are reimbursable under federal programs of federal agencies providing financial assistance and state awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal or state funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. Scope of Presentation The accompanying schedule presents the expenditures incurred (and related awards received) by the New Rochelle Municipal Housing Authority (the Authority) that are reimbursable under federal programs of federal agencies providing financial assistance and state awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal or state funds is reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. Basis of Accounting The expenditures included in the accompanying schedule were reported on the accrual basis of accounting. Expenditures are recognized in the accounting period in which the related liability isincurred. Expendituresreported included any property or equipment acquisitionsincurred underthe federal program. The information in thisschedule is presented in accordance with the requirements of Uniform Guidance, Audit of States, Local Governments, andNon‐ Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. Subrecipients During the fiscal year ended June 30, 2023, New Rochelle Municipal Housing Authority disbursed no Federal fundsto subrecipients. Indirect Cost Rate The Authority elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414. De Minimis Rate Used: N Rate Explanation: The Authority elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance, Section 414. The Authority has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.