Notes to SEFA
Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: NOTE B –SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are presented in conformity with Generally Accepted Accounting Principles (GAAP). 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.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Tuscarawas Metropolitan Housing Authority (the Authority) for the fiscal year ended March 31, 2024. 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 Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
Title: NOTE B –SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE B –SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are presented in conformity with Generally Accepted Accounting Principles (GAAP). 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.
De Minimis Rate Used: N
Rate Explanation: N/A
Expenditures reported on the Schedule are presented in conformity with Generally Accepted Accounting Principles (GAAP). 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.
Title: NOTE C – INDIRECT COST RATE
Accounting Policies: NOTE B –SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are presented in conformity with Generally Accepted Accounting Principles (GAAP). 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.
De Minimis Rate Used: N
Rate Explanation: N/A
The Authority has elected not to use the 10-percent de minims indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE D - SUBRECIPIENTS
Accounting Policies: NOTE B –SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are presented in conformity with Generally Accepted Accounting Principles (GAAP). 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.
De Minimis Rate Used: N
Rate Explanation: N/A
The Authority provided no federal awards to subrecipients during the year ending March 31, 2024.
Title: NOTE E – DISCLOSURE OF OTHER FORMS OF ASSISTANCE
Accounting Policies: NOTE B –SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are presented in conformity with Generally Accepted Accounting Principles (GAAP). 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.
De Minimis Rate Used: N
Rate Explanation: N/A
The Authority received no federal awards of non-monetary assistance that are required to be disclosed for the year ended March 31, 2024.
Title: NOTE F – LOAN PROGRAMS WITH CONTINUING COMPLIANCE REQUIREMENTS
Accounting Policies: NOTE B –SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Expenditures reported on the Schedule are presented in conformity with Generally Accepted Accounting Principles (GAAP). 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.
De Minimis Rate Used: N
Rate Explanation: N/A
The federal loan programs listed below are administered directly by the Authority, and balances and transactions relating to these programs are included in the Authority’s basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balances of loans outstanding on March 31, 2024, consist of: AL Number 10.766 Program/Cluster Name Community and Facilities Loans and Grants Cluster Outstanding Balance at March 31, 2024 $135,100