Notes to SEFA
Title: Major Programs
Accounting Policies: The accompanying Schedule of Financial Assistance is prepared on the accrual basis of accounting. Theinformation on this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements forFederal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of the Authority, it is not intended to and does not present the financial position, changes in netposition, or cash flows of the Authority.
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 theUniform Guidance.
Title: Award Balance
Accounting Policies: The accompanying Schedule of Financial Assistance is prepared on the accrual basis of accounting. Theinformation on this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements forFederal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of the Authority, it is not intended to and does not present the financial position, changes in netposition, or cash flows of the Authority.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
On the Section 8 Vouchers/Certificate programs, the Authority receives annual funds based on an annual estimate of need. Unexpended grant funds are available to meet subsequent year HAP shortfalls.
Title: Program Costs
Accounting Policies: The accompanying Schedule of Financial Assistance is prepared on the accrual basis of accounting. Theinformation on this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principals, and Audit Requirements forFederal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of the Authority, it is not intended to and does not present the financial position, changes in netposition, or cash flows of the Authority.
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 program costs. Actual program costs, including the housing Authority's portion, may be more than shown.