Notes to SEFA
Title: Note 1 - Basis of presentation
Accounting Policies: Note 2 - Summary of significant accounting policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized in accordance with the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
During the year ended December 31, 2023, Allen Wilson I, LP transferred from a discrete component unit into a blended component unit. Activity from July 19, 2023 through December 31, 2023 is included on the Financial Data Schedule line 70300.
Reconciliation from the statement of revenues, expenses and changes in net position to the schedule of expenditures of federal awards::
HUD Operating Grants including Discrete Component Unit: $12,360,822
HUD Operating Grants - Section 8 Housing Assistance Payments Program 98,559
Less: HUD Operating Grants - Discrete Component Unit: (3,080,552)
HUD Operating Grants - Primary Government: $9,378,829
Total Expenditures of Federal Awards: $9,378,829
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Housing Authority of the City of Decatur, Georgia 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 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 of the City of Decatur, Georgia, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Housing Authority of the City of Decatur, Georgia.