Notes to SEFA
Title: Basis of Presentation
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The accounting records for grant programs are maintained on the accrual basis, i.e., when the revenue has been earned and the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority has not elected to use the 10% de minimis indirect 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 Eau Claire (Housing Authority) under programs of the federal government for the year ended December 31, 2022. 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, it is not intended to and does not present the financial position, changes in net position or cash flows of the Housing Authority.
Title: Pass-Through Grantors
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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The accounting records for grant programs are maintained on the accrual basis, i.e., when the revenue has been earned and the liability is incurred.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority has not elected to use the 10% de minimis indirect cost rate.
Federal funds have been passed through the Wisconsin Housing and Economic Development Authority (WHEDA) and the City of Eau Claire. Pass-through entity identifying numbers are presented where available.