Audit 37594

Accounting Policies: Note 01 - Summary of Significant Accounting Policies to the Schedule of Expenditures of Federal AwardsScope of PresentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the expenditures incurred (and related awards received) by the Thomasville Housing Authority (The Authority) that are reimbursable under federal programs of federal agencies providing financial assistance awards. For the purposes of this schedule, only the portion of program expenditures reimbursable with such federal funds are reported in the accompanying schedule. Program expenditures in excess of the maximum federal or state reimbursement authorized or the portion of the program expenditures that were funded with, state, local or other nonfederal funds are excluded from the accompanying schedule.Basis of AccountingThe expenditures included in the accompanying schedule were reported on the accrual basis of accounting. Expenditures are recognized in the accounting period in which the related liability is incurred. Expenditures reported included any property or equipment acquisitions incurred under the federal program.The Schedule was prepared from only the accounts of the grant programs and, therefore, does not present the financial position or results of operations of Thomasville Housing Authority De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.