Notes to SEFA
Title: NOTE A – 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 Uniform Guidance wherein certain types of expenditure may or may not be allowable or may be limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 15-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Perry Metropolitan Housing Authority, Perry County (the Authority) under the programs of the federal government for the year ended December 30, 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 position, or cash flows of the Authority.
Title: NOTE B – 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 Uniform Guidance wherein certain types of expenditure may or may not be allowable or may be limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 15-percent de minimis indirect cost rate as 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 Uniform Guidance wherein certain types of expenditure may or may not be allowable or may be limited to reimbursement.
Title: NOTE C – 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 Uniform Guidance wherein certain types of expenditure may or may not be allowable or may be limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 15-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Authority has elected not to use the 15-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: NOTE D – 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 Uniform Guidance wherein certain types of expenditure may or may not be allowable or may be limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 15-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Authority provided no federal awards to subrecipients during the year ending December 31, 2024.
Title: NOTE E – DISCLOSURE OF OTHER FORMS OF 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 Uniform Guidance wherein certain types of expenditure may or may not be allowable or may be limited to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 15-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Authority received no federal awards of non-monetary assistance that are required to be disclosed for the year ended December 30, 2024.