Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Harrison Metropolitan Housing Authority under programs of the federal government for the year ended March 31, 2025. 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 Harrison Metropolitan Housing Authority, it is not intended to and does not present the fmancial position, changes in net position, or cash flows of Harrison Metropolitan Housing Authority.
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, wherein certain types of expenditures are not allowable or are limited to reimbursement.
The Harrison Metropolitan Housing Authority has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
There were no federal expenditures for the component unit, Enterprise Housing Property Preservation, L.L.C.
The federal loan programs listed below are administered directly by the Authority, and balances and transactions relating to these programs are included in the Authority's basic fmancial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balances of loans outstanding at March 31, 2025 consist of: Assistance Listing Number 10.415 Program Cluster Name Rural Rental Housing Loans Outstanding Balance at March 31, 2025 $495,090