Audit 50332

Title: NOTE C PROGRAM COSTS Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying schedule of federal awards (the Schedule) includes the federal grant activity of theHousing Authority of the Town of Manchester under programs of the federal government for the year endedSeptember 30, 2022. The information in this Schedule is presented in accordance with the requirementsof Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of the operations of the Housing Authority of the Town of Manchester, itis not intended to and does not present the financial position, changes in net position, or cash flows of theHousing Authority of the Town of Manchester.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in Uniform Guidance, whereincertain types of expenditures are not allowable or are limited as to reimbursement.(2) Pass-through entity identifying numbers are presented where available.(3) All expenditures are direct program expenditures. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The amounts presented as federal expenditures represent only the federal portion of the actual program costs. Actual program costs, including the Housing Authority of the Town of Manchesters portion, may be more than is shown on the schedule.