Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following the cost principles contained in the Office of Management
and Budget 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.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform
Guidance.
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal
ward activity of the Housing Authority of the City of Copperas Cove (Authority) under programs of
the federal government for the period ended December 31, 2024. 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). Because the Schedule presents only a selected portion of the
operations of the Authority, it is not intended to and does not present the financial position, changes
in net assets, or cash flows of the Authority.