Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of The Village of Kiryas Joel Housing Authority, Project No. NY 158-02 under program of the federal government for the year ended December 31, 2022. 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 Village of Kiryas Joel Housing Authority, Project No. NY 158-02, it is not intended to and does not present the financial position, changes in net assets, or cash flows of The Village of Kiryas Joel Housing Authority, Project No. NY 158-02
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-122, Cost Principles for Non-profit Organizations where in certain types of expenditures are not allowable or are limited as to reimbursement.
The Village of Kiryas Joel Housing Authority, Project No. NY 158-02 has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Organization has evaluated subsequent events and transaction for potential recognition or disclosure in the Schedule of Expenditures of Federal Award through September 15, 2023, the date the Schedule of Expenditures of Federal Awards was available to be issued.