Notes to SEFA
Accounting Policies: (1) Basis of PresentationThe accompanying schedule of expenditures of federal awards presents the activity of all federal awards programs administered by City of Oneonta Housing Authority (the Authority). Federal awards received directly from federal agencies, as well as federal awards passed through from other government agencies, are included on the schedule of expenditures of federal awards.(2) Basis of AccountingThe schedule of expenditures of federal awards is presented on the accrual basis of accounting. The information in 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 (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: Indirect costs are included in the reported expenditures to the extent such costs are included in the federal financial reports used as the source for the data presented. The Authority does not use the 10% de minimis election.