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 the Pickaway Metropolitan Housing Authority under programs of the
federal government for the year ended December 31, 2023. The information in this Schedule
is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administr ative Requirements, Cost Principles, and A udit Requirem ents for
Fed eral Awards (Uniform Guidanc e). Because the Sch edule presents on ly a selected portion
of the operation s of Pickaway Metropol itan Housing Authority, it is not intende d to and does
not present the financial position, changes in net position, or cash flows of Pickaway
Metropolitan Housing Authority.
NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Expenditures reported on the Schedule are reported on the GAAP 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
Pickaway Metropolitan Housing Authority 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: N/A