Audit 33613

Accounting Policies: 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal award activity of the Orlando Housing Authority (the Authority) under programs of thefederal government for the year ended March 31, 2022. The information in this Schedule ispresented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of the Authority, it is not intended to and does not present the financial position, changesin net assets, or cash flows of the Authority.2. Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the UniformGuidance wherein certain types of expenditures are not allowable or are limited as toreimbursement.3. Indirect Cost RateThe Authority has elected not to use the 10-percent de minimis indirect cost rate allowed underthe Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.