Title: NOTE 1: BASIS OF PRESENTATION
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, 0 MB
Circular A-87, and the State of Virginia, Office of Policy and Management, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying
numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10-percent de minimis indirect cost rate as allowed under
Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federa l
grant activity of the Charlottesville Redevelopment and Housing Auth ority under programs of the federal
government for the year ended March 31 , 2024, The information is presented in accordance with the
requirements ofTitle 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 operations of the Authority, it is not intended to and does not present
the net position, changes in net position or cash flows of the Authority. Some amounts presented in the
Schedule may differ from amounts presented in, or used in the preparation of the financial statements.
Title: NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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, 0 MB
Circular A-87, and the State of Virginia, Office of Policy and Management, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying
numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10-percent de minimis indirect cost rate as allowed under
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, 0 MB
Circular A-87, and the State of Virginia, Office of Policy and Management, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying
numbers are presented where available.
Title: NOTE 3: MAJOR PROGRAMS
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, 0 MB
Circular A-87, and the State of Virginia, Office of Policy and Management, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying
numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10-percent de minimis indirect cost rate as allowed under
Uniform Guidance.
The(*) to the right of a CFDA number identifies the grant as a major federal program as defined by Title 2
Part 200 (Uniform Guidance).
Title: NOTE 4: AWARD BALANCE
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, 0 MB
Circular A-87, and the State of Virginia, Office of Policy and Management, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying
numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10-percent de minimis indirect cost rate as allowed under
Uniform Guidance.
On the Housing Choice Voucher programs, the Authority receives annual funds based on an annual
estimate of need. Any Housing Assistance funds received in excess of current year payments is
restricted for payment of future Housing Assistance payments.
Title: NOTE 5: INDIRECT COST RA TE
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, 0 MB
Circular A-87, and the State of Virginia, Office of Policy and Management, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying
numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10-percent de minimis indirect cost rate as allowed under
Uniform Guidance.
The Authority has not elected to use the 10-percent de minimis indirect cost rate as allowed under
Uniform Guidance.