Title: NOTE A - BASIS OF PRESENTATION:
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The
information on this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards . Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements. In accordance with HUD regulations, HUD considers the Annual Budget
Authority for the Section 8 Housing Choice Voucher Program ("HCV"), AL No. 14.871, to be an expenditure for the
purposes of this schedule. Therefore, the amount in this schedule is the total amount received directly from HUD and not
the expenditures paid by the Authority.
De Minimis Rate Used: N
Rate Explanation: The Authority did not elect to use the 10-percent de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The
information on this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards . Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements. In accordance with HUD regulations, HUD considers the Annual Budget
Authority for the Section 8 Housing Choice Voucher Program ("HCV"), AL No. 14.871, to be an expenditure for the
purposes of this schedule. Therefore, the amount in this schedule is the total amount received directly from HUD and not
the expenditures paid by the Authority.
Title: NOTE B - PERFORMANCE BASED CONTRACT ADMINISTRATOR GRANT:
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The
information on this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards . Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements. In accordance with HUD regulations, HUD considers the Annual Budget
Authority for the Section 8 Housing Choice Voucher Program ("HCV"), AL No. 14.871, to be an expenditure for the
purposes of this schedule. Therefore, the amount in this schedule is the total amount received directly from HUD and not
the expenditures paid by the Authority.
De Minimis Rate Used: N
Rate Explanation: The Authority did not elect to use the 10-percent de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards excludes $552,668,848 of expenditures for a Performance Based Contract Administrator Agreement with HUD for the States of Texas and Arkansas. There is a separately issued schedule of expenditures of federal awards and an audit performed in accordance with the requirements of Uniform Guidance for the year ended March 31, 2024 for Southwest Housing Compliance Corporation, a blended component unit of the Authority, in which that federal award is included.
Title: NOTE C - SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM:
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The
information on this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards . Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements. In accordance with HUD regulations, HUD considers the Annual Budget
Authority for the Section 8 Housing Choice Voucher Program ("HCV"), AL No. 14.871, to be an expenditure for the
purposes of this schedule. Therefore, the amount in this schedule is the total amount received directly from HUD and not
the expenditures paid by the Authority.
De Minimis Rate Used: N
Rate Explanation: The Authority did not elect to use the 10-percent de minimis indirect cost rate.
The accompanying schedule of expenditures of federal awards excludes $6,912,444 of expenditures for the Section 8 Housing Assistance Payments Program of the Authority. The Authority has converted existing Low Income Public Housing utilizing the RAD program and these entities receive separately issued schedules of expenditures of federal awards and audits performed in accordance with the requirements of Uniform Guidance for the years ended December 31, 2023.
Title: NOTE D - INDIRECT COST RATE:
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The
information on this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards . Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements. In accordance with HUD regulations, HUD considers the Annual Budget
Authority for the Section 8 Housing Choice Voucher Program ("HCV"), AL No. 14.871, to be an expenditure for the
purposes of this schedule. Therefore, the amount in this schedule is the total amount received directly from HUD and not
the expenditures paid by the Authority.
De Minimis Rate Used: N
Rate Explanation: The Authority did not elect to use the 10-percent de minimis indirect cost rate.
The Authority did not elect to use the 10-percent de minimis indirect cost rate.
Title: NOTE E - SUB-RECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The
information on this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards . Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements. In accordance with HUD regulations, HUD considers the Annual Budget
Authority for the Section 8 Housing Choice Voucher Program ("HCV"), AL No. 14.871, to be an expenditure for the
purposes of this schedule. Therefore, the amount in this schedule is the total amount received directly from HUD and not
the expenditures paid by the Authority.
De Minimis Rate Used: N
Rate Explanation: The Authority did not elect to use the 10-percent de minimis indirect cost rate.
During the year ended March 31, 2024, the Authority had no sub-recipients.
Title: NOTE F - NONCASH ASSISTANCE AND OTHER
Accounting Policies: The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting. The
information on this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal
Awards . Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the
preparation of, the basic financial statements. In accordance with HUD regulations, HUD considers the Annual Budget
Authority for the Section 8 Housing Choice Voucher Program ("HCV"), AL No. 14.871, to be an expenditure for the
purposes of this schedule. Therefore, the amount in this schedule is the total amount received directly from HUD and not
the expenditures paid by the Authority.
De Minimis Rate Used: N
Rate Explanation: The Authority did not elect to use the 10-percent de minimis indirect cost rate.
The Authority did not receive any noncash assistance, federal loans, or federally funded insurance during the year ended March 31, 2024.