Notes to SEFA
Title: BASIS OF ACCOUNTING
Accounting Policies: Expenditures are recognized following the cost principles contained in the OMB Circular-A87 and Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
This schedule is prepared on the same basis of accounting as the authority's financial statements. The authority
uses the accrual basis of accounting.
Title: PROGRAM COSTS
Accounting Policies: Expenditures are recognized following the cost principles contained in the OMB Circular-A87 and Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
The amounts shown as current year expenditures represent only federal and state/local grant portions of the program costs. Entire program costs, including the authority's portion may be more than shown.
Title: FEDERAL LOANS
Accounting Policies: Expenditures are recognized following the cost principles contained in the OMB Circular-A87 and Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance
The authority was approved by various local jurisdictions to receive pass-through CDBG loans totaling $1,473,970; a $2,904,439 Healthcare Facility Note to build low income housing; and a $7,500,000 pass-through loan from US Department of Treasury ARPA funds. The amount listed includes loan proceeds received during the year and the outstanding loan balances from prior years. Community Development Block Grant (Clark County Project 0916,09H3) Camas Ridge Apartment $34,281, Community Development Block Grant (City of Vancouver CDBG-414909) Vista Court Apartment $81,500, Community Development Block Grant (City of Vancouver CDBG 2015-CDBG-414536) Bridgeview Housing $150,000, Community Development Block Grant (City of Vancouver CDBG 2015-CDBG-1506) Bridgeview Housing $100,000, Community Development Block Grant (Clark County Project 2018-CDBG-1818) Inn at Orchards Shelter $158,300, Community Development Block Grant (Clark County NSP) 16703 SE 1st street project $564,268, Community Development Block Grant (City of Vancouver CDBG) 16703 SE 1st street project $385,621, Housing Trust Fund (Washington State 22RC-94120-006) Nam'u qas acquisition $7,500,000, Department of Housing and Urban Development Healthcare Facility Note Section 232 (Arbor Ridge) $2,904,439, TOTAL FEDERAL LOANS $ 11,878,409.