Notes to SEFA
Title: Note 1
Accounting Policies: The accompanying schedule of expenditures of Federal Awards includes the Federal Grant activity of the Modoc Lassen Indian Housing Authority and is presented on the modified accrual basis of accountin. The informaiton in this schedule Is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent de minimis indirect cost rate as allowed under OMB Uniform Guidance.
The accompanying schedule of expenditures of Federal Awards includes the Federal Grant activity of the Modoc Lassen Indian Housing Authority and is presented on the modified 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).
The Housing Authority did not elect to use the 10 percent de minimis indirect cost rate as allowed under OMB Uniform Guidance.
Subrecipients
The Modoc Lassen Indian Housing Authority did not provide any federal awards to subrecipients during the fiscal year ended December 31, 2024.
Title: Note 2
Accounting Policies: The accompanying schedule of expenditures of Federal Awards includes the Federal Grant activity of the Modoc Lassen Indian Housing Authority and is presented on the modified accrual basis of accountin. The informaiton in this schedule Is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent de minimis indirect cost rate as allowed under OMB Uniform Guidance.
The Modoc Lassen Indian Housing Authority did not have any federal loans during the fiscal year ended December 31, 2024
Title: Note 3
Accounting Policies: The accompanying schedule of expenditures of Federal Awards includes the Federal Grant activity of the Modoc Lassen Indian Housing Authority and is presented on the modified accrual basis of accountin. The informaiton in this schedule Is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not elect to use the 10 percent de minimis indirect cost rate as allowed under OMB Uniform Guidance.
Reconciliation of Reported Expenditures to Financial Statement Totals. The following is a reconciliation of total federal expenditures reported on the schedule of expenditures of federal awards to the grant revenue total reported on the Housing Authority's Statement of Revenues, Expenses and Changes in Net Position for the year endint December 31, 2023. See notes to the SEFA for table.