Notes to SEFA
Accounting Policies: 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards includes thefederal grant activity of Roanoke Redevelopment and Housing Authoritypresented on the accrual basis of accounting. The information in thisschedule is presented in accordance with the requirements of the UniformGuidance, Audits of States, Local Governments, and Non-ProfitOrganizations. Therefore, some amounts presented in this schedule maydiffer from amounts presented in, or used in the preparation of the basicfinancial statements.2. Loan GuaranteesAt September 30, 2022, the Authority is not the guarantor of any loansoutstanding, except as discussed in the notes to the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.