Notes to SEFA
Accounting Policies: 1. BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the
federal award activity of Hocking Metropolitan Housing Authority (the Authority) under
programs of the federal government for the year ended December 31, 2023. The information
on this Schedule is prepared 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 Authority, it is not intended to and does
not present the financial position, changes in net position, or cash flows of the Authority.
2. SUMMARY OF SIGNIFICANT 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 Uniform Guidance,
wherein certain types of expenditures may or may not be allowable or may be limited as to
reimbursement.
3. INDIRECT COST RATE
The Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed
under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: N/A