Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards (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.
De Minimis Rate Used: N
Rate Explanation: The Agency has not elected to use the 10% de minimis cost rate.
The Schedule includes the federal award activity of the Moorhead Public Housing Agency under
programs of the federal government for the year ended June 30, 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 Awards.
Because the Schedule presents only selected portions of the operations of the Agency, it is not intended
to and does not present the financial position, changes in net position, or cash flows of the Agency.