Notes to SEFA
Accounting Policies: Basis of Accounting - The accompanying schedule of expenditures of federal awards (the Schedule)includes the federal grant activity of the Housing Commission under programs of the federal governmentfor the year ended September 30, 2022. Expenditures reported on the Schedule are reported on the samebasis of accounting as the basic financial statements, although the basis for determining when federalawards are expended is presented in accordance with the requirements of the Uniform Guidance, Audit ofStates, Local Governments, and Non-Profit Organizations. In addition, expenditures reported on theSchedule are recognized following the cost principles required by Title 2 U.S. Code of Federal Regulations(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limitedas to reimbursement. Therefore, some amounts presented in this Schedule may differ from amountspresented in, or used in the preparation of the financial statements.Because the Schedule presents only a selected portion of the operations of the Housing Commission, it isnot intended to and does not present the financial position, changes in net assets, or cash flows, if applicable,of the Housing Commission.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.