Notes to SEFA
Title: Note 1 - 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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Pasco County Housing Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Pasco County Housing Authority is presented on the 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). Because the schedule only presents a selected portion of the operations of the organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Pasco County Housing Authority.
Title: Note 2 - Summary of Significant Accounting Policies
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Pasco County Housing Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
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.
Title: Note 3 - De Minimis Indirect Cost Rate
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Pasco County Housing Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Pasco County Housing Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance
Title: Note 4 - Loan Balance
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Pasco County Housing Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Pasco County's outstanding Rural Rental Housing Loan Program loan balance as of September 30, 2024 was $3,836,371
Title: Note 5 - Awards Passed-Through to Subrecipients
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Pasco County Housing Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
No federal award funds were passed-through to subrecipient grantees during the fiscal year ended September 30, 2024.
Title: Note 6 - Non-Monetary Federal Awards Assistance
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 Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Pasco County Housing Authority has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The Pasco County Housing Authority did not receive or expend non-monetary federal awards assistance during the fiscal year ended September 30, 2024.