Audit 44590

Accounting Policies: (1)GeneralThe accompanying schedule of expenditures of federal awards (the Schedule) presents the activity of all federal financial assistance programs administered by The Housing Authority of the City of Seattle, Washington (the Authority), for the year ended December 31, 2022. The information presented in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). The Authoritys organizational structure is defined in note 1 of the notes to the Authoritys basic financial statements. All federal financial assistance received directly from federal agencies, and federal financial assistance passed through from other government agencies or organizations have been included in the accompanying Schedule. 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.(2)Basis of AccountingExpenditures reported on the accompanying Schedule are presented using the accrual basis of accounting, which is described in note 1 of the notes to the Authoritys basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited to reimbursement.(3)Relationship to Federal Financial ReportsAmounts reported in the accompanying Schedule may not agree with the amounts reported in the related federal financial reports filed with grantor agencies because of accruals reflected in the Schedule that would be included in a future report filed with the agencies.(4)Cost RateThe Authority has elected not to use the de minimis 10% indirect cost rate. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.