Notes to SEFA
Title: Major Programs
Accounting Policies: The Schedule of Financial Assistance is prepared on the GAAP basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The(*) to the right of a CFDA number identifies the grant as a major federal program as defined by Title 2U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles,and Audit Requirements for Federal Awards.
Title: Award Balance
Accounting Policies: The Schedule of Financial Assistance is prepared on the GAAP basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
On the Housing Choice Vouchers program, the Authority receives annual funds based on an annualestimate of need. Unexpended grant funds are used to meet subsequent year HAP shortfalls.
Title: Program Costs
Accounting Policies: The Schedule of Financial Assistance is prepared on the GAAP basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amounts shown as current year expenditures represent only the federal portion of the actual programcosts. Actual program costs, including the housing Authority's portion, may be more than shown.