Notes to SEFA
Title: Note D - Subrecipients
Accounting Policies: NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE C INDIRECT COST RATEThe Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Authority provided no federal awards to subrecipients during the fiscal year ended September 30, 2022.
Title: Note A - Basis of Presentation
Accounting Policies: NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: NOTE C INDIRECT COST RATEThe Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
NOTE A BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the Darke County Metropolitan Housing Authority (the Authority) under programs of the federal government for the fiscal year ended September 30, 2022. The information on this Schedule is prepared 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). Because the Schedule presents only a selected portion of the operations of the Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.