Notes to SEFA
The above schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of the Authority under of the federal government for the year ended September 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 requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. In accordance with HUD regulations, HUD considers the Annual Budget Authority for the Housing Choice ALN No. 14.871 and Mainstream Housing ALN No. 14.879 to be considered an expenditure for the purposes of this schedule. Therefore, the amount in this schedule is the total amount received directly from HUD and not the total expenditures paid by the Authority. Odessa Senior Housing Partnership I, which is a blended component unit, elected ot have their own single audit and their expenditures of federal awasrds are therefore excluded from the Authority's Schedule of Federal Awards.
Expenditures reported on thee Schedule are reported on the modified accrual basis of accounting . 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 reimrsement.
The Authority did not elect to use the 15 percent de minimis cost rate as permitted in UG, Section 200.414.
During the year ended September 30, 2025, the Authority had no sub-recipients.
The Authority did not receive any noncash federal assistande for the year ended September 30, 2025.