Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Clermont Metropolitan Housing Authority (the Authority) under programs of the federal government for the year ended September 30, 2024. The information on this Schedule is prepared in accordance with the requirements of the 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 Authority, it is not intended to and does not present the finance positions, changes in net postions, of cash flows of the Authority.
Expenditures report on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
The Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.