Title: Note 4: Home Finance Expenditures
Accounting Policies: The Housing Authority of the Choctaw Nation of Oklahoma’s (the Housing Authority) reporting entity is described in Note 1 to the Housing Authority’s financial statements. Federal financial awards received by the Housing Authority directly from federal agencies as well as federal financial awards passed through other government agencies, if any, are included on the accompanying schedule of expenditures of federal awards (the Schedule). Required matching contributions, program income, state and private grants, and other nonfederal grants and awards are not included in the Schedule. The Schedule includes the federal award activity of the Housing Authority under programs of the federal government for the year ended September 30, 2023, other than the federal expenditure activity included in separate federally funded projects operated under Section 202 of the National Affordable Housing Act and regulated by the U.S. Department of Housing and Urban Development (HUD), which are included in Choctaw Hope Development Corporation’s consolidated financial statements. Separate Single Audit reports are issued for each of the following Section 202 projects, which are included in Choctaw Hope Development Corporation’s consolidated financial statements:
• Choctaw Poteau Properties, Inc. d/b/a Dancing Rabbit
• Choctaw Idabel Properties, Inc. d/b/a Chahta Tumaha
• Choctaw Atoka Properties, Inc. d/b/a Atoka Tumaha Okla
• Choctaw Durant Properties, Inc. d/b/a Itek Tuchena
• Choctaw Hugo Properties, Inc. d/b/a Choctaw Village
The Housing Authority is the Tribally Designated Housing Entity (TDHE) for the Choctaw Nation of Oklahoma.
The information in the 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 the Housing Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Housing Authority. 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 or other regulatory guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Choctaw Home Finance Corporation (Home Finance), a discretely presented component unit of the Housing Authority, is included in the scope of the Housing Authority’s Single Audit. The federal award expenditures made by Home Finance during the year ended September 30, 2023 totaled $935,311 and are included in the Schedule under Assistance Listing Number 14.867. These funds were passed through the Housing Authority to Home Finance but are not considered funding to a subrecipient because, as indicated above, Home Finance is included within the scope of the Housing Authority’s Single Audit.
Title: Note 5: NAHASDA Reconciliation
Accounting Policies: The Housing Authority of the Choctaw Nation of Oklahoma’s (the Housing Authority) reporting entity is described in Note 1 to the Housing Authority’s financial statements. Federal financial awards received by the Housing Authority directly from federal agencies as well as federal financial awards passed through other government agencies, if any, are included on the accompanying schedule of expenditures of federal awards (the Schedule). Required matching contributions, program income, state and private grants, and other nonfederal grants and awards are not included in the Schedule. The Schedule includes the federal award activity of the Housing Authority under programs of the federal government for the year ended September 30, 2023, other than the federal expenditure activity included in separate federally funded projects operated under Section 202 of the National Affordable Housing Act and regulated by the U.S. Department of Housing and Urban Development (HUD), which are included in Choctaw Hope Development Corporation’s consolidated financial statements. Separate Single Audit reports are issued for each of the following Section 202 projects, which are included in Choctaw Hope Development Corporation’s consolidated financial statements:
• Choctaw Poteau Properties, Inc. d/b/a Dancing Rabbit
• Choctaw Idabel Properties, Inc. d/b/a Chahta Tumaha
• Choctaw Atoka Properties, Inc. d/b/a Atoka Tumaha Okla
• Choctaw Durant Properties, Inc. d/b/a Itek Tuchena
• Choctaw Hugo Properties, Inc. d/b/a Choctaw Village
The Housing Authority is the Tribally Designated Housing Entity (TDHE) for the Choctaw Nation of Oklahoma.
The information in the 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 the Housing Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Housing Authority. 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 or other regulatory guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
A reconciliation of the total expenditures of federal grants reported as expended under HUD for Assistance Listing Number 14.867 in relation to the total previously reported in prior years and reported to HUD directly by the Housing Authority for the year ended September 30, 2023 is as follows: See notes to SEFA for chart/table.
Title: Note 6:
Accounting Policies: The Housing Authority of the Choctaw Nation of Oklahoma’s (the Housing Authority) reporting entity is described in Note 1 to the Housing Authority’s financial statements. Federal financial awards received by the Housing Authority directly from federal agencies as well as federal financial awards passed through other government agencies, if any, are included on the accompanying schedule of expenditures of federal awards (the Schedule). Required matching contributions, program income, state and private grants, and other nonfederal grants and awards are not included in the Schedule. The Schedule includes the federal award activity of the Housing Authority under programs of the federal government for the year ended September 30, 2023, other than the federal expenditure activity included in separate federally funded projects operated under Section 202 of the National Affordable Housing Act and regulated by the U.S. Department of Housing and Urban Development (HUD), which are included in Choctaw Hope Development Corporation’s consolidated financial statements. Separate Single Audit reports are issued for each of the following Section 202 projects, which are included in Choctaw Hope Development Corporation’s consolidated financial statements:
• Choctaw Poteau Properties, Inc. d/b/a Dancing Rabbit
• Choctaw Idabel Properties, Inc. d/b/a Chahta Tumaha
• Choctaw Atoka Properties, Inc. d/b/a Atoka Tumaha Okla
• Choctaw Durant Properties, Inc. d/b/a Itek Tuchena
• Choctaw Hugo Properties, Inc. d/b/a Choctaw Village
The Housing Authority is the Tribally Designated Housing Entity (TDHE) for the Choctaw Nation of Oklahoma.
The information in the 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 the Housing Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Housing Authority. 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 or other regulatory guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The federal loan program listed subsequently is administered by Home Finance with funds passed through from the Housing Authority. The balances and transactions relating to the programs are included in Home Finance’s basic financial statements. Loans made during the prior year are not included in the federal expenditures presented in the Schedule. The balance of loans outstanding at September 30, 2023 consists of: See notes to SEFA for chart/table.