Title: NOTE A – BASIS OF PRESENTATION
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the PHA under programs of the federal government for the 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 Award (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the PHA, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the PHA.
NOTE B – 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The PHA has elected not to use the 10 percent de Minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE C – U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
In accordance with HUD guidelines, under the Section 8 Housing Choice Voucher Program; Mainstream Voucher Program; PIH Family Self-Sufficiency; and Resident Opportunities and Supportive Services, federal awards expended for the fiscal year equal the total program expenses. Federal awards expended for the fiscal year under the Public and Indian Housing Program and the Capital Fund Program equal the HUD operating and capital grant subsidies; and for the Section 8 New Construction federal awards expended equal the HUD operating subsidies received.
NOTE D – SUBRECIPIENTS
The PHA provided no federal awards to subrecipients during the year ended March 31, 2024.
De Minimis Rate Used: N
Rate Explanation: The PHA has elected not to use the 10 percent de Minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the PHA under programs of the federal government for the 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 Award (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the PHA, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the PHA.
Title: NOTE B – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the PHA under programs of the federal government for the 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 Award (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the PHA, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the PHA.
NOTE B – 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The PHA has elected not to use the 10 percent de Minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE C – U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
In accordance with HUD guidelines, under the Section 8 Housing Choice Voucher Program; Mainstream Voucher Program; PIH Family Self-Sufficiency; and Resident Opportunities and Supportive Services, federal awards expended for the fiscal year equal the total program expenses. Federal awards expended for the fiscal year under the Public and Indian Housing Program and the Capital Fund Program equal the HUD operating and capital grant subsidies; and for the Section 8 New Construction federal awards expended equal the HUD operating subsidies received.
NOTE D – SUBRECIPIENTS
The PHA provided no federal awards to subrecipients during the year ended March 31, 2024.
De Minimis Rate Used: N
Rate Explanation: The PHA has elected not to use the 10 percent de Minimis indirect cost rate as allowed under the Uniform Guidance.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The PHA has elected not to use the 10 percent de Minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE C – U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the PHA under programs of the federal government for the 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 Award (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the PHA, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the PHA.
NOTE B – 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The PHA has elected not to use the 10 percent de Minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE C – U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
In accordance with HUD guidelines, under the Section 8 Housing Choice Voucher Program; Mainstream Voucher Program; PIH Family Self-Sufficiency; and Resident Opportunities and Supportive Services, federal awards expended for the fiscal year equal the total program expenses. Federal awards expended for the fiscal year under the Public and Indian Housing Program and the Capital Fund Program equal the HUD operating and capital grant subsidies; and for the Section 8 New Construction federal awards expended equal the HUD operating subsidies received.
NOTE D – SUBRECIPIENTS
The PHA provided no federal awards to subrecipients during the year ended March 31, 2024.
De Minimis Rate Used: N
Rate Explanation: The PHA has elected not to use the 10 percent de Minimis indirect cost rate as allowed under the Uniform Guidance.
In accordance with HUD guidelines, under the Section 8 Housing Choice Voucher Program; Mainstream Voucher Program; PIH Family Self-Sufficiency; and Resident Opportunities and Supportive Services, federal awards expended for the fiscal year equal the total program expenses. Federal awards expended for the fiscal year under the Public and Indian Housing Program and the Capital Fund Program equal the HUD operating and capital grant subsidies; and for the Section 8 New Construction federal awards expended equal the HUD operating subsidies received.
Title: NOTE D – SUBRECIPIENTS
Accounting Policies: NOTE A – BASIS OF PRESENTATION
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the PHA under programs of the federal government for the 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 Award (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the PHA, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the PHA.
NOTE B – 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The PHA has elected not to use the 10 percent de Minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE C – U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
In accordance with HUD guidelines, under the Section 8 Housing Choice Voucher Program; Mainstream Voucher Program; PIH Family Self-Sufficiency; and Resident Opportunities and Supportive Services, federal awards expended for the fiscal year equal the total program expenses. Federal awards expended for the fiscal year under the Public and Indian Housing Program and the Capital Fund Program equal the HUD operating and capital grant subsidies; and for the Section 8 New Construction federal awards expended equal the HUD operating subsidies received.
NOTE D – SUBRECIPIENTS
The PHA provided no federal awards to subrecipients during the year ended March 31, 2024.
De Minimis Rate Used: N
Rate Explanation: The PHA has elected not to use the 10 percent de Minimis indirect cost rate as allowed under the Uniform Guidance.
The PHA provided no federal awards to subrecipients during the year ended March 31, 2024.