Notes to SEFA
The Schedule of Expenditures of Federal Awards presents amounts expended by Federal Grantor to finance activities
of the federal awards programs administered by the Franklin Redevelopment and Housing Authority (the Authority).
The Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting, in confirmity with
accounting principles generally accepted in the United States of America.
All direct federal funds are granted by US Department
of Housing and Urban Development (HUD).
The Authority has not elected to use the 10-percent
de minimis indirect cost rate allowed under the Uniform Guidance.