Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award
activity of the Housing Authority of the City of Salisbury, under programs of the federal government for the
year ended June 30, 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 for Federal Awards (Uniform Guidance).
Because the Schedule presents only a selected portion of the operations of Housing Authority of the City of
Salisbury, it is not intended to and does not present the financial position, changes in net assets, or cash flows
of the Housing Authority of the City of Salisbury.
De Minimis Rate Used: Y
Rate Explanation: The Housing Authority of the City of Salisbury has elected
to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award
activity of the Housing Authority of the City of Salisbury, under programs of the federal government for the
year ended June 30, 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 for Federal Awards (Uniform Guidance).
Because the Schedule presents only a selected portion of the operations of Housing Authority of the City of
Salisbury, it is not intended to and does not present the financial position, changes in net assets, or cash flows
of the Housing Authority of the City of Salisbury. The Housing Authority of the City of Salisbury has elected
to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.