Notes to SEFA
Accounting Policies: Note 1: Basis of PresentationNote 2: Summary of Significant Accounting PoliciesExpenditures reported in the SEFA are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement.OHA has elected not to use the 10-percent de minimis indirect cost rate as allowed under the UniformGuidance.Theaccompanyingscheduleofexpendituresoffederalawards(SEFA)includesthefederalgrantactivityofOxfordHousingAuthorityundertheprogramsofthefederalgovernmentfortheyearendedMarch31,2022.TheinformationinthisSEFAispresentedinaccordancewiththerequirementsofTitle2USCodeofFederalRegulationsPart200,UniformAdministrativeRequirements,CostPrinciplesandAuditRequirementsforFederalAwards.BecausetheschedulepresentsonlyaselectedportionoftheoperationsoftheOxfordHousingAuthority,itisnotintendedtoanddoesnotpresentthefinancialposition, or cash flows of the Oxford Housing Authority.Oxford Housing AuthoritySchedule of Expenditures of Federal AwardsFor the Fiscal Year Ended March 31, 2022
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.