Notes to SEFA
Title: Reporting Guidance
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.
De Minimis Rate Used: N
Rate Explanation: The Derry Housing & Redevelopment Authority has elected not to use the
10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The accompanying Schedule of Expenditures of Federal Awards has been prepared following the guidance provided by the U.S. Department of Housing and Urban Development’s Real Estate Assessment Center (REAC).