Notes to SEFA
Accounting Policies: NOTE 1: BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal
award activity of Warren Metropolitan Housing Authority (the Authority) under programs of the
federal government for the year ended December 31, 2023. The information on this Schedule
is prepared in accordance with the requirements of the 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 finance positions,
changes in net position, or cash flows of the Authority.
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
Uniform Guidance wherein certain types of expenditures may or may not be allowable or may
be limited as to reimbursement.
NOTE 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.
NOTE 4: SUBRECIPIENTS
The Authority passes certain awards received from the State of Ohio to other governments or notfor-
profit agencies (subrecipients). As Note 2 describes, the Authority reports expenditures of Federal
awards to subrecipients on an accrual basis.
As a pass-through entity, the Authority has certain compliance responsibilities, such as monitoring its
subrecipients to help assure they use these subawards as authorized by laws, regulations, and the
provisions of contracts or grant agreements, and that subrecipients achieve the award's performance
goals.
De Minimis Rate Used: N
Rate Explanation: N/A