Audit 347602

Title: NOTE 1 – BASIS OF PRESENTATION Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Housing Authority of the City of Winona and is presented on the accrual basis of accounting. 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 (Uniform Guidance). De Minimis Rate Used: N Rate Explanation: The Housing Authority of the City of Winona has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Housing Authority of the City of Winona and is presented on the accrual basis of accounting. 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 (Uniform Guidance).

Title: NOTE 1 – BASIS OF PRESENTATION Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Housing Authority of the City of Winona and is presented on the accrual basis of accounting. 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 (Uniform Guidance). De Minimis Rate Used: N Rate Explanation: The Housing Authority of the City of Winona has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. The Housing Authority of the City of Winona has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.