Notes to SEFA
Title: NOTE 3HOUSING CHOICE VOUCHER PROGRAM
Accounting Policies: NOTE 1BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Authority under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.Expenditures reported on the Schedule are reported on the 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 reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Authority received $3,316,343 in federal funding for the Section 8 Housing Choice Voucher Program (ALN 14.871) and $15,217 in COVID-19 HCV CARES Act funding (ALN 14.781) during the year. The Authority reported $4,049,612 and $15,217 in expenses on a full accrual basis for the Section 8 Housing Choice Voucher Program and COVID-19 HCV CARES Act funding, respectively during the year, which were paid with federal and nonfederal funds. The Authority reported $731,346 of Port-In expenses during the fiscal year.