Title: SUB-RECIPIENTS
Accounting Policies: The above schedule of expenditures of federal awards includes the federal grant activity of the Authority and its Blended Component Units and is presented on the accrual basis of accounting. The information on 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. In accordance with HUD regulations, HUD considers the Annual Budget Authority for the Section 8 Housing Choice Voucher Program, ALN No. 14.871, to be considered an expenditure for the purposes of this schedule. Therefore, the amount in this schedule is the total amount received directly from HUD and not the total expenditures paid by the Authority. HCHA Cypresswood Estates, LLC, which is a blended component unit, elected to have their own single audit and their expenditures of federal awards are therefore excluded from the Authority's Schedule of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The Authority did not elect to use the 10-percent de minimis indirect cost rate.
During the year ended March 31, 2022, the Authority had no sub-recipients.
Title: NONCASH FEDERAL ASSISTANCE
Accounting Policies: The above schedule of expenditures of federal awards includes the federal grant activity of the Authority and its Blended Component Units and is presented on the accrual basis of accounting. The information on 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. In accordance with HUD regulations, HUD considers the Annual Budget Authority for the Section 8 Housing Choice Voucher Program, ALN No. 14.871, to be considered an expenditure for the purposes of this schedule. Therefore, the amount in this schedule is the total amount received directly from HUD and not the total expenditures paid by the Authority. HCHA Cypresswood Estates, LLC, which is a blended component unit, elected to have their own single audit and their expenditures of federal awards are therefore excluded from the Authority's Schedule of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The Authority did not elect to use the 10-percent de minimis indirect cost rate.
The Authority did not receive any noncash federal assistance for the year ended March 31, 2022.
Title: LOAN PROGRAMS
Accounting Policies: The above schedule of expenditures of federal awards includes the federal grant activity of the Authority and its Blended Component Units and is presented on the accrual basis of accounting. The information on 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. In accordance with HUD regulations, HUD considers the Annual Budget Authority for the Section 8 Housing Choice Voucher Program, ALN No. 14.871, to be considered an expenditure for the purposes of this schedule. Therefore, the amount in this schedule is the total amount received directly from HUD and not the total expenditures paid by the Authority. HCHA Cypresswood Estates, LLC, which is a blended component unit, elected to have their own single audit and their expenditures of federal awards are therefore excluded from the Authority's Schedule of Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The Authority did not elect to use the 10-percent de minimis indirect cost rate.
In accordance with the Uniform Guidance, the notes to the Schedule of Expenditures of Federal Awards shall include loan and loan activities of federal programs. During the year ended March 31, 2022, the Authority obtained $14,646,468 in CDBG loans from Harris County, Texas. There were no repayments made during the fiscal year. The March 31, 2022 ending balance of outstanding CDBG loans was $18,800,912.