Notes to SEFA
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basisof accounting. Such expenditures are recognized following the costprinciples contained in the Uniform Guidance and/or OMB Circular A-87,Cost Principles for State, Local and Indian Tribal Governments, whereincertain types of expenditures are not allowable or are limited as toreimbursement.
De Minimis Rate Used: N
Rate Explanation: The Sanford Housing Authority has not elected to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance.