Notes to SEFA
Title: 1. Scope of Audit Pursuant to Uniform Guidance
Accounting Policies: The Authority’s Schedule of Expenditures of Federal Awards has been prepared using the same basis of
accounting as the December 31, 2023, financial statements of the Authority. The Authority reports to HUD using
the accrual basis of accounting. A complete description of the basis of accounting is included in Note 1 to those
financial statements.
De Minimis Rate Used: N
Rate Explanation: The Authority has
elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal award
programs of the Authority. All federal awards received directly from federal agencies as well as federal awards
passed through other governmental agencies or other entities are included in the Schedule. The Authority has
elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: 2. Basis of Presentation
Accounting Policies: The Authority’s Schedule of Expenditures of Federal Awards has been prepared using the same basis of
accounting as the December 31, 2023, financial statements of the Authority. The Authority reports to HUD using
the accrual basis of accounting. A complete description of the basis of accounting is included in Note 1 to those
financial statements.
De Minimis Rate Used: N
Rate Explanation: The Authority has
elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Authority’s Schedule of Expenditures of Federal Awards has been prepared using the same basis
of accounting as the December 31, 2023, financial statements of the Authority. The Authority
reports to HUD using the accrual basis of accounting. A complete description of the basis of
accounting is included in Note 1 to those
financial statements.
Title: 3. Contingencies
Accounting Policies: The Authority’s Schedule of Expenditures of Federal Awards has been prepared using the same basis of
accounting as the December 31, 2023, financial statements of the Authority. The Authority reports to HUD using
the accrual basis of accounting. A complete description of the basis of accounting is included in Note 1 to those
financial statements.
De Minimis Rate Used: N
Rate Explanation: The Authority has
elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
In connection with various federal grant programs, the Authority is obligated to administer related programs and
spend the funds in accordance with regulatory restrictions and is subject to audit by grantor agencies and other
auditors. In cases of noncompliance, the agencies involved may require the Authority to refund program funds.
Title: 4. Public Housing Capital Fund Detail by Grant Year
Accounting Policies: The Authority’s Schedule of Expenditures of Federal Awards has been prepared using the same basis of
accounting as the December 31, 2023, financial statements of the Authority. The Authority reports to HUD using
the accrual basis of accounting. A complete description of the basis of accounting is included in Note 1 to those
financial statements.
De Minimis Rate Used: N
Rate Explanation: The Authority has
elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Identifying Number CFDA Number Total Grant
Prior Year Expenditures
Current Year Expenditures
Remaining Grant
UT06P007501-20 14.872 $ 615,583 $ 365,447 $
186,382 $ 63,754
UT06P007501-21 14.872 645,982 -
455,138 190,844
UT06P007501-22 14.872 550,534 -
249,415 301,119
$ 1,812,099 $ 323,940 $ 890,935 $ 555,717