Notes to SEFA
Title: NOTE A - GENERAL
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected to not use the 10% de minimus indirect cost rate, as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards presents the activities of the Housing Authority of the Delta Housing Authority. The 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”). Therefore, some amounts presented in these schedules may differ from amounts presented in or used in the preparation of the basic financial statements.
Title: NOTE B – BASIS OF ACCOUNTING
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected to not use the 10% de minimus indirect cost rate, as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
Title: NOTE C – FEDERAL LOAN AND INSURANCE PROGRAMS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected to not use the 10% de minimus indirect cost rate, as allowed under the Uniform Guidance.
The Authority also participates in the following Rural Housing Service loan program, a direct program, through the U.S. Department of Agriculture-Rural Development Division: Program Title: Rural Rental Housing Loans Federal CFDA Number: 10.415 Ending Balance of Direct Loands: $66,795
Title: NOTE D – INDIRECT COST RATE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected to not use the 10% de minimus indirect cost rate, as allowed under the Uniform Guidance.
The Authority has elected to not use the 10% de minimus indirect cost rate, as allowed under the Uniform Guidance.