Notes to SEFA
Title: Major Programs
Accounting Policies: The accompanying Schedule of Financial Assistance is prepared on the accrual basis of accounting. Theinformation on this Schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200. Uniform Administrative Requirements, Cost Principals, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The (*) to the right of a CFDA number identifies the grant as a major federal program as defined byUniform Guidance.
Title: Award Balance
Accounting Policies: The accompanying Schedule of Financial Assistance is prepared on the accrual basis of accounting. Theinformation on this Schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200. Uniform Administrative Requirements, Cost Principals, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
On the Housing Choice Vouchers programs, the Authority receives annual funds based on an annualestimate of need. Unexpended grant funds are used to meet subsequent year HAP shortfalls.
Title: Program Costs
Accounting Policies: The accompanying Schedule of Financial Assistance is prepared on the accrual basis of accounting. Theinformation on this Schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200. Uniform Administrative Requirements, Cost Principals, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The amounts shown as current year expenditures represent only the federal portion of the actual programcosts. Actual program costs, including the housing Authority's portion, may be more than shown.