Title: Basis of Presentation
Accounting Policies: Summary of Significant Accounting Policies(1)Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following either the cost principles contained in the Uniform Guidance or the cost principles contained in OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments based on the grant award date. Generally, for grants (including funding increments with modified terms and conditions) awarded after December 26, 2014, such expenditures are recognized following the cost principles contained in the Uniform Guidance and for grant expenditures related to grants awarded prior to December 26, 2014, such expenditures are recognized following the cost principles contained in OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments. The award date is based on the date the Federal award is signed by the authorized official of the Federal awarding agency. Certain types of expenditures are not allowable or are limited as to reimbursement. However, expenditures relating to U.S. Department of Homeland Security and Federal Emergency Management Agency (FEMA) Federal Assistance Listing #97.036 are reported when (1) FEMA has approved the project worksheet, and (2) eligible expenditures have been incurred, in accordance with FEMA regulations. (2)Pass-through entity identifying numbers are presented where available.(3)The Town of Huntington, New York has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. (4)Federal grants received by the Town are subject to audit and adjustment. If any expenditure is disallowed by the grantor agencies as a result of such an audit, the grantor agencies could make claims for reimbursement, which would become a liability of the Town.(5)Disaster Grants Public Assistance (Presidentially Declared Disasters) Federal Assistance Listing #97.036) $4,371,612 of FEMA expenditures related to the declared disasters reported on the Schedule of Expenditures of Federal Awards (SEFA) were incurred in 2020. Adjustments to previously reported FEMA funded expenditures, if warranted, are and will be reported on the SEFA in the year it becomes known. In March 2022, the president signed into law H.R. 2471 Consolidated Appropriations Act, 2022, which granted a minimum of 90% federal cost share for any emergency or major disaster declaration declared occurring or having an incident period between January 1, 2020 and December 31, 2022, which is a change from the original federal cost share rate of 75%. The expenditures originally reported in previous years were only reported using a 75% federal cost share. Accordingly the Town has included the additional expenditures on the SEFA.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the Town of Huntington, New York (the Town) under programs of the federal government for the year ended December 31, 2022. The information 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). All federal financial assistance passed through to other government agencies is included in the schedule of expenditures of federal awards. Because the Schedule presents only a selected portion of the operations of the Town of Huntington, New York, it is not intended to and does not present the financial position or changes in net position of the Town of Huntington, New York.
Title: Loan Funds - Not Subject to Compliance
Accounting Policies: Summary of Significant Accounting Policies(1)Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following either the cost principles contained in the Uniform Guidance or the cost principles contained in OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments based on the grant award date. Generally, for grants (including funding increments with modified terms and conditions) awarded after December 26, 2014, such expenditures are recognized following the cost principles contained in the Uniform Guidance and for grant expenditures related to grants awarded prior to December 26, 2014, such expenditures are recognized following the cost principles contained in OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments. The award date is based on the date the Federal award is signed by the authorized official of the Federal awarding agency. Certain types of expenditures are not allowable or are limited as to reimbursement. However, expenditures relating to U.S. Department of Homeland Security and Federal Emergency Management Agency (FEMA) Federal Assistance Listing #97.036 are reported when (1) FEMA has approved the project worksheet, and (2) eligible expenditures have been incurred, in accordance with FEMA regulations. (2)Pass-through entity identifying numbers are presented where available.(3)The Town of Huntington, New York has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. (4)Federal grants received by the Town are subject to audit and adjustment. If any expenditure is disallowed by the grantor agencies as a result of such an audit, the grantor agencies could make claims for reimbursement, which would become a liability of the Town.(5)Disaster Grants Public Assistance (Presidentially Declared Disasters) Federal Assistance Listing #97.036) $4,371,612 of FEMA expenditures related to the declared disasters reported on the Schedule of Expenditures of Federal Awards (SEFA) were incurred in 2020. Adjustments to previously reported FEMA funded expenditures, if warranted, are and will be reported on the SEFA in the year it becomes known. In March 2022, the president signed into law H.R. 2471 Consolidated Appropriations Act, 2022, which granted a minimum of 90% federal cost share for any emergency or major disaster declaration declared occurring or having an incident period between January 1, 2020 and December 31, 2022, which is a change from the original federal cost share rate of 75%. The expenditures originally reported in previous years were only reported using a 75% federal cost share. Accordingly the Town has included the additional expenditures on the SEFA.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Town's Community Development Agency (Agency) has a deferred loan and fixed rate program that is originally financed with federal financial assistance from the Community Development Block Grant (Federal Assistance Listing 14.218). Monies from this funding are used to purchase, construct and rehabilitate single family or multifamily residential properties in low-income areas in the Town of Huntington, New York.Under the deferred rate loan program, no monthly payments are made. However, upon the death of the homeowner(s), or the sale or refinancing of the home, the loan is repaid by the homeowner or their estate. The money received from the repayment is credited to the rehabilitation budget and spent on the deferred rate loan program. The amounts outstanding under the deferred rate loan program as of December 31, 2022 is $5,602,914. This amount is not reflected in the Schedule of Expenditures of Federal Awards.Under the fixed rate loan program, the individual homeowner is required to make monthly payments at a low interest rate to the Agency. As of December 31, 2022, there is one outstanding loan with a balance of $4,376. This amount is not reflected in the Schedule of Expenditures of Federal Awards.
Title: Emergency Rental Assistance Program
Accounting Policies: Summary of Significant Accounting Policies(1)Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following either the cost principles contained in the Uniform Guidance or the cost principles contained in OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments based on the grant award date. Generally, for grants (including funding increments with modified terms and conditions) awarded after December 26, 2014, such expenditures are recognized following the cost principles contained in the Uniform Guidance and for grant expenditures related to grants awarded prior to December 26, 2014, such expenditures are recognized following the cost principles contained in OMB Circular A-87 Cost Principles for State, Local and Indian Tribal Governments. The award date is based on the date the Federal award is signed by the authorized official of the Federal awarding agency. Certain types of expenditures are not allowable or are limited as to reimbursement. However, expenditures relating to U.S. Department of Homeland Security and Federal Emergency Management Agency (FEMA) Federal Assistance Listing #97.036 are reported when (1) FEMA has approved the project worksheet, and (2) eligible expenditures have been incurred, in accordance with FEMA regulations. (2)Pass-through entity identifying numbers are presented where available.(3)The Town of Huntington, New York has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. (4)Federal grants received by the Town are subject to audit and adjustment. If any expenditure is disallowed by the grantor agencies as a result of such an audit, the grantor agencies could make claims for reimbursement, which would become a liability of the Town.(5)Disaster Grants Public Assistance (Presidentially Declared Disasters) Federal Assistance Listing #97.036) $4,371,612 of FEMA expenditures related to the declared disasters reported on the Schedule of Expenditures of Federal Awards (SEFA) were incurred in 2020. Adjustments to previously reported FEMA funded expenditures, if warranted, are and will be reported on the SEFA in the year it becomes known. In March 2022, the president signed into law H.R. 2471 Consolidated Appropriations Act, 2022, which granted a minimum of 90% federal cost share for any emergency or major disaster declaration declared occurring or having an incident period between January 1, 2020 and December 31, 2022, which is a change from the original federal cost share rate of 75%. The expenditures originally reported in previous years were only reported using a 75% federal cost share. Accordingly the Town has included the additional expenditures on the SEFA.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Pursuant to the American Rescue Plan, the Town was awarded two Emergency Rental Assistance Program grants (ERA) directly from the U.S. Treasury. The Town elected to redirect the awards to New York State, which is now responsible for the administration of the award. The Towns ERA award, upon redirection to New York State, was effectively de-obligated and cancelled. As such, the initial awards are not reported in the Schedule of Expenditures of Federal Awards. Subsequent to transferring/redirecting the ERA award to New York State, the Town received a subaward of the ERA grant from the New York State Office of Temporary and Disability Assistance Agency. Expenditures incurred under this subaward are included in the Schedule of Expenditures of Federal Awards.