Notes to SEFA
Accounting Policies: NOTE 1BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal and state awards (the schedule) includes the federal and state award activity of the Eau Claire County Housing Authority (Authority) under programs of the federal and state government for the year ended December 31, 2022. All federal financial assistance received directly from federal agencies as well as federal financial assistance passed through other government agencies is included on the schedule. The Authority did not pass any federal award money to subrecipients during the fiscal year. The information in this 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 Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.NoteNOTE 2SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe accompanying schedule of expenditures or federal and state awards is presented using the accrual basis of accounting, which is described in Note 1 of the Authoritys financial statements. 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.