Audit 51793

Accounting Policies: NOTE 1: BASIS OF ACCOUNTINGThe accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federalgrant activity of the Bristol Redevelopment and Housing Authority under programs of the federalgovernment for the year ended March 31, 2022. The information is presented in accordance with therequirements ofTitle 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of operations of the Authority, it is not intended to and does not presentthe net position, changes in net position or cash flows of the Authority. Some amounts presented in theSchedule may differ from amounts presented in, or used in the preparation of the financial statements.NOTE 2: MAJOR PROGRAMSThe(*) to the right of a CFDA number identifies the grant as a major federal program as defined by Title 2Part 200 (Uniform Guidance).NOTE 3: AWARD BALANCEOn the Housing Choice Voucher programs, the Authority receives annual funds based on an annualestimate of need. Any Housing Assistance funds received in excess of current year payments isrestricted for payment of future Housing Assistance payments.NOTE 4: INDIRECT COST RA TEThe Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed underUniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.