Audit 6011

Title: SUBRECIPIENTS Accounting Policies: NOTE 1 BASIS OF PRESENTATION: The accompanying schedule of expenditures of federa awards (the Schedule) includes federal award activity of the Housing Authority of the City of Derby under programs of the federal government for the year ended March 31, 2023. 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 of Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Housing Authority of the City of Derby, it is not intended to and does not present financial position, change in net assets, or cash flows of the Housing Authority of the City of Derby. NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Expenditures 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. De Minimis Rate Used: N Rate Explanation: The programs being administered are not condusive to the de minimis cost rate. No awards were passed through to subrecipients.