Notes to SEFA
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (The "Schedule") includes the federal award
activity of the Housing Authority under programs of the federal government for the year ended September 30,
2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of
the Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal
Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the
Housing Authority, it is not intended to and does not present the financial position, changes in net assets, or cash
flows of the Housing Authority. Expenditures reported on the 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 Housing Authority has not elected to use the 10-precent de minims indirect cost rate as allowed under the
Uniform Guidance.