Notes to SEFA
Title: Note 2 Continued
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalaward activity of Cedar Hill Housing Corporation U.S. Department of Housing and UrbanDevelopment (HUD) Project No. 084-HD046 (the Project) under programs of the federalgovernment for the year ended March 31, 2022. The information in this Schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of the operations of the Project, itis not intended to and does not present the financial position, changes in net assets, or cash flows ofthe Project.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Cedar Hill Housing Corporation U.S. Department of Housing and Urban Development (HUD) Project No. 084-HD046 (the Project) haselected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 3
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalaward activity of Cedar Hill Housing Corporation U.S. Department of Housing and UrbanDevelopment (HUD) Project No. 084-HD046 (the Project) under programs of the federalgovernment for the year ended March 31, 2022. The information in this Schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of the operations of the Project, itis not intended to and does not present the financial position, changes in net assets, or cash flows ofthe Project.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Cedar Hill Housing Corporation U.S. Department of Housing and Urban Development (HUD) Project No. 084-HD046 (the Project) did not have a balance outstanding due to any federal loan programs included in the Projects basic financial statements at March 31, 2022. The Projects mortgage note with HUD through the Supportive Housing for Persons with Disabilities Program was recorded as a contribution from HUD due to the terms described in the notes to the financial statements.
Title: Note 4
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalaward activity of Cedar Hill Housing Corporation U.S. Department of Housing and UrbanDevelopment (HUD) Project No. 084-HD046 (the Project) under programs of the federalgovernment for the year ended March 31, 2022. The information in this Schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of the operations of the Project, itis not intended to and does not present the financial position, changes in net assets, or cash flows ofthe Project.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Person Protective Equipment (PPE) (Unaudited): The project did not receive any donated PPE during the year ended March 31, 2022.