Notes to SEFA
Title: Reporting Guidance
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Concord Housing and Redevelopment Authority has elected not to use the 10percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards has been preparedfollowing the guidance provided by the U.S. Department of Housing and Urban DevelopmentsReal Estate Assessment Center (REAC).