Title: NOTE 3 - Federal Loans
Accounting Policies: The Schedule of Financial Assistance is prepared on the same basis of accounting as the Housing Authority's financial statements. The Housing Authority uses the full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Bremerton Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Outstanding loan balances with continuing compliance requirements, including those received and expended in prior years are listed under Debt Liability Balance.
Title: NOTE 4 - Program Costs
Accounting Policies: The Schedule of Financial Assistance is prepared on the same basis of accounting as the Housing Authority's financial statements. The Housing Authority uses the full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Bremerton Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts shown as current year expenditures represent only the federal portion of the program costs. Actual program costs, including the Housing Authority's portion, may be more than shown.
Title: NOTE 5 - American Recovery and Reinvestment Act (ARRA) of 2009
Accounting Policies: The Schedule of Financial Assistance is prepared on the same basis of accounting as the Housing Authority's financial statements. The Housing Authority uses the full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Bremerton Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Expenditures for this program were funded by ARRA and received from the Washington State Housing Finance Commission.
Title: NOTE 6 - Section 8 Housing Choice Vouchers 14.871
Accounting Policies: The Schedule of Financial Assistance is prepared on the same basis of accounting as the Housing Authority's financial statements. The Housing Authority uses the full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Bremerton Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount reported on the SEFA is operating revenue received of $22,937,261. Actual program operating expenses were $23,686,560
Title: NOTE 7 - Continuum of Care 14.267
Accounting Policies: The Schedule of Financial Assistance is prepared on the same basis of accounting as the Housing Authority's financial statements. The Housing Authority uses the full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Bremerton Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount reported on the SEFA is operating subsidy revenue received. Actual program expenses totaled $356,401
Title: NOTE 8 - Section 8 Moderate Rehabilitation Single Room Occupancy 14.249
Accounting Policies: The Schedule of Financial Assistance is prepared on the same basis of accounting as the Housing Authority's financial statements. The Housing Authority uses the full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Bremerton Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount reported on the SEFA is operating subsidy revenue received. Actual program expenses totaled $211,487
Title: NOTE 9 - HOME Investment Partnership program and the 811 Rental Assistance program
Accounting Policies: The Schedule of Financial Assistance is prepared on the same basis of accounting as the Housing Authority's financial statements. The Housing Authority uses the full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Bremerton Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Both of these programs receive pass-through funds from the Washington State Department of Commerce
Title: NOTE 10 - Emergency Housing Vouchers
Accounting Policies: The Schedule of Financial Assistance is prepared on the same basis of accounting as the Housing Authority's financial statements. The Housing Authority uses the full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Bremerton Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
A total of $847,748 was received in funding from HUD for these vouchers during the fiscal year. The actual amount recorded as revenue was $801,614. The difference of $46,134 was for the service fees which were recorded as unearned revenue per HUD PIH Notice 2021-25. Total operating expenses were $755,539.
Title: NOTE 11 - Public Housing Capital Fund
Accounting Policies: The Schedule of Financial Assistance is prepared on the same basis of accounting as the Housing Authority's financial statements. The Housing Authority uses the full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Bremerton Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
$436,206 was for capital expenditures,$699,315 for capital fund soft costs,and $51,959 for admin fee.
Title: NOTE 12 - Low Rent Public Housing
Accounting Policies: The Schedule of Financial Assistance is prepared on the same basis of accounting as the Housing Authority's financial statements. The Housing Authority uses the full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Bremerton Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Operating subsidy received from HUD for public housing
Title: NOTE 13 - Coronavirus State and Local Fiscal Recovery Funds
Accounting Policies: The Schedule of Financial Assistance is prepared on the same basis of accounting as the Housing Authority's financial statements. The Housing Authority uses the full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Bremerton Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
This program receives pass-through funds from the Kitsap County
Title: NOTE 14 - State And Local Cybersecurity Grant Program
Accounting Policies: The Schedule of Financial Assistance is prepared on the same basis of accounting as the Housing Authority's financial statements. The Housing Authority uses the full accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Bremerton Housing Authority has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
This program receives pass-through funds from the Washington Military Department