Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal and state awards includes the federal and state grant activity of the Housing Authority of the City of Milton, Florida for the year ended March 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). Because the Schedule presents only a selected portion of the operating expenditures of the Housing Authority of the City of Milton, Florida, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Housing Authority of the City of Milton, Florida.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.