Audit 355433

Title: Scope of Presentation Accounting Policies: The accompanying schedule presents the expenditures incurred (and related awards received) by McMinnville Housing Authority (the Authority) that are reimbursable under federal and state programs agencies providing financial assistance. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal and state funds are reported in the accompanying schedule. Program expenditures in excess of the maximum federal reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. The expenditures included in the accompanying schedule were reported on an accrual basis in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program. De Minimis Rate Used: N Rate Explanation: The Authority elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance. The accompanying schedule presents the expenditures incurred (and related awards received) by McMinnville Housing Authority (the Authority) that are reimbursable under federal and state programs agencies providing financial assistance. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal and state funds are reported in the accompanying schedule. Program expenditures in excess of the maximum federal reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule.

Title: Basis of Accounting Accounting Policies: The accompanying schedule presents the expenditures incurred (and related awards received) by McMinnville Housing Authority (the Authority) that are reimbursable under federal and state programs agencies providing financial assistance. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal and state funds are reported in the accompanying schedule. Program expenditures in excess of the maximum federal reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. The expenditures included in the accompanying schedule were reported on an accrual basis in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program. De Minimis Rate Used: N Rate Explanation: The Authority elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance. The expenditures included in the accompanying schedule were reported on an accrual basis in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program.

Title: Subrecipients Accounting Policies: The accompanying schedule presents the expenditures incurred (and related awards received) by McMinnville Housing Authority (the Authority) that are reimbursable under federal and state programs agencies providing financial assistance. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal and state funds are reported in the accompanying schedule. Program expenditures in excess of the maximum federal reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. The expenditures included in the accompanying schedule were reported on an accrual basis in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program. De Minimis Rate Used: N Rate Explanation: The Authority elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance. During the fiscal year ended December 31, 2024, the Authority made no payments to subrecipients.

Title: Indirect Cost Rate Accounting Policies: The accompanying schedule presents the expenditures incurred (and related awards received) by McMinnville Housing Authority (the Authority) that are reimbursable under federal and state programs agencies providing financial assistance. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal and state funds are reported in the accompanying schedule. Program expenditures in excess of the maximum federal reimbursement authorized or the portion of the program expenditures that were funded with local or other nonfederal funds are excluded from the accompanying schedule. The expenditures included in the accompanying schedule were reported on an accrual basis in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program. De Minimis Rate Used: N Rate Explanation: The Authority elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance. The Authority elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance.