Notes to SEFA
Title: Housing Choice Voucher Cluster
Accounting Policies: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures 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.BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Authority under programs of the federal government for the year ended March 31, 2022. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Authority received $14,518,334 in Section 8 Housing Choice Voucher Program (ALN 14.871), $101,240 in COVID-19 HCV CARES Act Funding (ALN 14.871), and $413,553 in Emergency Housing Voucher funding. The Authority reported $14,526,506, $101,240, and $358,115 in expenditures on a full accrual basis for Section 8 Housing Choice Voucher Program, COVID-19 HCV CARES Act, and Emergency Housing Voucher, respectively during the year, which were paid with federal and nonfederal funds. The Authority reported $5,075 in HAP Portability income and $4,642 in HAP Portability expenses.