Notes to SEFA
The Schedule of Expenditures of Federal Awards presents the activity of all applicable federal awards of the Housing Authority. The Authorities' reporting entity is defined in Note 1 of the basic financial statements. Federal awards passed through other governmental agencies are included on the Schedule of Expenditures of Federal Awards.
The Schedule of Expenditures of Federal Awards is prepared on the modified accrual basis of accounting. The modified accrual basis of accounting is described in Note 1 of the basic financial statements. Federal grants are considered to be earned to the extent of expenditures made under the provision of the grant; and accordingly, when such funds are received, and they are recorded as unearned revenue until earned.
The Santa Fe Civic Housing Authority elected to use the 15% de minimus rate.
The Housing Authority does not have any sub-recipients for their federal awards.
The Authority did not receive any noncash assistance.
Total federal expenditures reported on the Schedule of Expenditures of Federal Awards (SEFA) for the year ended June 30, 2025 totaled $15,134,179. Federal revenue reported in the Statement of Revenues, Expenditures, and Changes in Net Position totaled $15,134,179. There are no differences between the federal awards received (Federal sources) during the year ended June 30, 2025 and the federal awards expended during the year.