Notes to SEFA
Accounting Policies: The Schedule is presented using the accrual basis of accounting, the method used to prepare theHousing Authoritys basic financial statements. Note 1 of the Housing Authoritys basic financialstatements describes the significant accounting policies used by the Housing Authority. Suchexpenses are recognized following the cost principles contained in Uniform Guidance, whereincertain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.