Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: NOTE 1: BASIS OF PRESENTATION -The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Prichard, Alabama and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Cose of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The Housing Authority did not elect to use the 10% De Minimus Cost Rate. NOTE 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. NOTE 3: INDIRECT COST RATE - The City of Prichard, Alabama does not use a negotiated indirect cost rate and has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Housing Authority of the City of Anniston, Alabama and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Cose of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The Housing Authority did not elect to use the 10% De Minimus Cost Rate.
Title: Note 2 - Summary of Significant Accounting Policies
Accounting Policies: NOTE 1: BASIS OF PRESENTATION -The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Prichard, Alabama and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Cose of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The Housing Authority did not elect to use the 10% De Minimus Cost Rate. NOTE 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. NOTE 3: INDIRECT COST RATE - The City of Prichard, Alabama does not use a negotiated indirect cost rate and has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis cost rate.
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.
Title: Note 3 - Indirect Cost Rate
Accounting Policies: NOTE 1: BASIS OF PRESENTATION -The accompanying schedule of expenditures of federal awards includes the federal grant activity of the City of Prichard, Alabama and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Cose of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The Housing Authority did not elect to use the 10% De Minimus Cost Rate. NOTE 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. NOTE 3: INDIRECT COST RATE - The City of Prichard, Alabama does not use a negotiated indirect cost rate and has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the deminimis cost rate.
The City of Prichard, Alabama does not use a negotiated indirect cost rate and has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.