Notes to SEFA
Title: PORT-INS SECTION 8 HOUSING CHOICE VOUCHER PROGRAM (14.871)
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of theAuthority and is presented on the accrual basis of accounting. The information in this schedule ispresented 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.Therefore, some amounts presented in this schedule may differ from amounts presented in or used inthe preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Not included are $12,711,293 of Port-in expenses included in the statement of revenue and expenses based on a directive from HUD Real Estate Assessment Center.
Title: RAD CONVERSION OF LOW-INCOME PUBLIC HOUSING (14.195)
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of theAuthority and is presented on the accrual basis of accounting. The information in this schedule ispresented 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.Therefore, some amounts presented in this schedule may differ from amounts presented in or used inthe preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Authority has converted the existing Low-Income Public Housing utilizing the RAD program and those associated expenditures are reflected in the above Schedule of Expenditures of Federal Awards and those expenditures are being subsidized by HUD under separate legal entities, in the amount of $1,883,362 under CFDA# 14.195.