Notes to SEFA
Title: Program Costs
Accounting Policies: This schedule is prepared on the same basis of accounting as the Authority’s financial statements. The Authority uses U.S. Generally Accepted Accounting Principles and the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The Authority has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance for Department of Veterans Affairs awards. The Authority has not elected to use the 10% de minimis indirect cost rate for any other departments’ awards.
Except as noted in the next paragraph the amounts shown as current year expenditures represent only the federal award portion of the program costs. Entire program costs, including the Authority’s portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The amounts shown on the schedule for the Housing Choice Voucher program (ALN 14.871), the Mainstream 5
program (ALN 14.879), and the Emergency Housing Vouchers program (ALN 14.871) represent amounts
received by the Authority.
Title: Sub-recipients of Federal Awards
Accounting Policies: This schedule is prepared on the same basis of accounting as the Authority’s financial statements. The Authority uses U.S. Generally Accepted Accounting Principles and the accrual basis of accounting.
De Minimis Rate Used: Y
Rate Explanation: The Authority has elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance for Department of Veterans Affairs awards. The Authority has not elected to use the 10% de minimis indirect cost rate for any other departments’ awards.
No amounts expended during the year ended September 30, 2024, were passed through to sub-recipients.