Notes to SEFA
Title: Scope of Presentation
Accounting Policies: The expenditures included in the accompanying schedule were reported on an accrual basis of accounting.
Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported
included any property or equipment acquisitions incurred under the federal program.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance,
section 414.
The accompanying schedule presents the expenditures incurred (and related awards received) by Sheridan Housing
Authority (Authority) that are reimbursable under federal programs of federal agencies providing financial assistance
and state awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such
federal or state funds is reported in the accompanying schedule. Program expenditures in excess of the maximum
federal or state reimbursement authorized or the portion of the program expenditures that were funded with local or
other nonfederal funds are excluded from the accompanying schedule.
Title: Basis of Accounting
Accounting Policies: The expenditures included in the accompanying schedule were reported on an accrual basis of accounting.
Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported
included any property or equipment acquisitions incurred under the federal program.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance,
section 414.
The expenditures included in the accompanying schedule were reported on an accrual basis of accounting.
Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported
included any property or equipment acquisitions incurred under the federal program.
Title: Indirect Cost Rate
Accounting Policies: The expenditures included in the accompanying schedule were reported on an accrual basis of accounting.
Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported
included any property or equipment acquisitions incurred under the federal program.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance,
section 414.
The Authority has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance,
section 414.
Title: Commitment and Contingencies
Accounting Policies: The expenditures included in the accompanying schedule were reported on an accrual basis of accounting.
Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported
included any property or equipment acquisitions incurred under the federal program.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance,
section 414.
Federal grants received by the Authority are subject to review and audit by grantor agencies. The Authority’s
management believes that the results of such audits will not have a material effect on the Schedule.
Title: Subrecipients
Accounting Policies: The expenditures included in the accompanying schedule were reported on an accrual basis of accounting.
Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported
included any property or equipment acquisitions incurred under the federal program.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10% de minimis indirect cost rate as allowed in the Uniform Guidance,
section 414.
The Authority does not participate with any subrecipient organizations for the administration or performance of its’
federal programs.