Notes to SEFA
Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Connecticut Housing Finance Authority, under programs of the federal government for the year ended December 31, 2022. The information in 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. Because the Schedule presents only a selected portion of the operations of the Connecticut Housing Finance Authority, it is not intended to, and does not, present the financial position, changes in fund balance, changes in net position or cash flows of the Connecticut Housing Finance Authority. Basis of Accounting - Expenditures reported on the Schedule are reported using the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Connecticut Housing Finance Authority, has elected not to use the 10% de minimis indirect cost rate provided under Section 200.414 of the Uniform Guidance.