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 Henderson County Housing Authority (Authority) and is presented on the accrual basis of accounting.
The schedule summarizes the federal funds expended by the Authority under the programs of the federal government during the year ended September 30, 2023. The schedule of expenditures of federal awards displays the Authority’s expenditures charged to federal programs for the year ended September 30, 2023, the cost principals in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Authority has not implemented the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Authority has not implemented the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Note 1 – Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Henderson County Housing Authority (Authority) and is presented on the accrual basis of accounting.
The schedule summarizes the federal funds expended by the Authority under the programs of the federal government during the year ended September 30, 2023. The schedule of expenditures of federal awards displays the Authority’s expenditures charged to federal programs for the year ended September 30, 2023, the cost principals in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Authority has not implemented the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 2 – Sources of Funding
Accounting Policies: Note 1 – Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Henderson County Housing Authority (Authority) and is presented on the accrual basis of accounting.
The schedule summarizes the federal funds expended by the Authority under the programs of the federal government during the year ended September 30, 2023. The schedule of expenditures of federal awards displays the Authority’s expenditures charged to federal programs for the year ended September 30, 2023, the cost principals in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Authority has not implemented the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Authority has not implemented the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Note 2 – Sources of Funding
The schedule includes all grants and contracts entered into directly between the Authority and agencies and departments of the federal government, as well as federal funds passed-through to the Authority by primary recipients. The Authority provided no part of its direct grant federal dollars to sub-recipients.
Title: Note 3 - Reconciliation of Federal Expenditures
Accounting Policies: Note 1 – Basis of Presentation
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Henderson County Housing Authority (Authority) and is presented on the accrual basis of accounting.
The schedule summarizes the federal funds expended by the Authority under the programs of the federal government during the year ended September 30, 2023. The schedule of expenditures of federal awards displays the Authority’s expenditures charged to federal programs for the year ended September 30, 2023, the cost principals in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Authority has not implemented the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Authority has not implemented the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
Note 3 - Reconciliation of Federal Expenditures
Total Federal Expenditures per Schedule of Federal Awards $ 1,148,862
Reconciling item: Department of Agriculture, Rural Housing (Note 13) -903,482
Total Federal Assistance per Financial Statements $ 245,380
HUD Subsidy $ 166,696
Rural Development Subsidy 78,684
Total Subsidy $ 245,380