FAC Explorer

Audit 54341

FY End
2022-09-30
Total Expended
$1.47M
Findings
0
Programs
2
Organization: Fayetteville Housing Authority (TN)
Year: 2022 Accepted: 2023-03-08
Auditor: Putman & Hancock CPAS

Organization Exclusion Status:

Findings

No findings recorded

Programs

ALN Program Spent Major Findings
14.850 Public and Indian Housing $1.07M Yes 0
14.872 Public Housing Capital Fund $408,495 - 0

Contacts

Name Title Type
W95BB3U3NCA5 Ginger Pearson Auditee
9314331587 Dan Hancock Auditor
No contacts on file

Notes to SEFA

Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (SEFA) includes the federal and state award activity of Fayetteville Housing Authority under programs of the federal and state government for the year ended September 30, 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 operations of Fayetteville Housing Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of Fayetteville Housing Authority.NOTE 2 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 the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. NOTE 3 INDIRECT COST RATEFayetteville Housing Authority has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.NOTE 4 SUBRECIPIENTSFor the year ended September 30, 2022, the Fayetteville Housing Authority had no awards that were passed through to subrecipients.NOTE 5 CAPITAL FUND PROGRAMSUnder the requirements of the federal award assistance listing number 14.872, Capital Fund programs 501-19, 501-20, and 501-21, the Authority may expend grant monies for eligible activities such as operations, management improvements, and administrative expenses. During 2022, the Authority did not spend any funds for such activities.NOTE 6 COMMITMENTSAt September 30, 2022, the Fayetteville Housing Authority had no outstanding federal awards related to various capital projects. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate.