Notes to SEFA
Title: NOTE 1 - Notes to the Schedule of Expenditures of Federal Awards for the Year ended March 31, 2023
Accounting Policies: Expenditures reported 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 are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: As allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activity of Oxford Housing Authority under the programs of the federal government for the year ended March 31, 2023. The information in this SEFA is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operations of the Oxford Housing Authority, it is not intended to and does not present the financial position, or cash flows of the Oxford Housing Authority.
Title: NOTE 2: SUMMARY OF SIGNIFICANT ACOUNTING POLICIES
Accounting Policies: Expenditures reported 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 are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: As allowed under the Uniform Guidance.
EXPENDITURES IN THE SEFA ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING.