Notes to SEFA
Title: Note 2
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10% de minimis indirect cost rate.
An extensive compliance test, as required by the Single Audit Act of 1996, was performed on the Section 8 Housing Choice Vouchers program which represents 79% of the total expenditures reflected on the Schedule of Federal Financial Assistance.
Title: Note 4
Accounting Policies: The Schedule of Expenditures of Federal Awards has been prepared on the accrual basis of accounting. Revenues were adjusted to balance the expenditures incurred for each project.
De Minimis Rate Used: N
Rate Explanation: The Authority has not elected to use the 10% de minimis indirect cost rate.
The Authorty has no subrecipients.