Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Burlington Housing Authority, under programs of the federal government for the year ended June 30, 2025. The information in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirement, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of Burlington Housing Authority, it is not intended to and does not present the financial position, changes in net position or cash flows of Burlington Housing Authority.
Expenditures reported on the schedule are reported on the accrual basis of accounting. For cost-reimbursement awards, such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. For performance-based awards, expenditures reported represent amounts earned.
The Burlington Housing Authority has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts reported under ALN 14.900 Lead-Based Paint Hazard Control in Privately-Owned Housing, consists of a loan from the City of Burlington. The outstanding loan balance at June 30, 2025 and 2024 was $101,820.