Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") presents the activity of all federal award programs of Santa Clara Pueblo Housing Authority (the "Housing Authority") for the year ended December 31, 2024. Because the Schedule presents only a selected portion of the operations of the Housing Authority, it is not intended to and doesn't present the financial position, changes in net position, or cash flows of the Housing Authority. Federal awards received directly from federal agencies are designated as “Direct Program.” Any federal awards passed through from other grantor agencies, if any, are designated as “Pass-through” on the Schedule. 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). The amount presented in the Schedule agrees to the amounts presented in or used in the preparation of the basic financial statements.
The Schedule is presented using the accrual basis of accounting, the method used to prepare the Housing Authority’s basic financial statements. Note 1 of the Housing Authority’s basic financial statements describes the significant accounting policies used by the Housing Authority. Such expenses are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenses are not allowable or are limited to reimbursement.
As of December 31, 2024, the Housing Authority did not provide any awards to subrecipients.
The Housing Authority has elected not to use the 10% de minimis indirect cost rate as allowed under Uniform Guidance.
The following is a reconciliation of the expenditures reported on the schedule of expenditures of federal awards to the expenditures reported on the statement of revenues, expenses, and changes in net position included in the accompanying financial statements: Expenditures according to the schedule of expenditures of federal awards $ 4,938,917 Capital expenditures (1,806,130) Depreciation expense 513,474 Expenditures funded by nonfederal sources 553,427 Operating expenses on financial statements $ 4,199,688