Notes to SEFA
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule)includes the federal award activity of the Aurora Housing Authority (the Authority)under programs of the federal government for the year ended March 31, 2022. Theinformation in this Schedule is presented in accordance with the requirements ofTitle 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Because the Schedule presents only a selected portion of theoperations of the Authority, it is not intended to and does not present the financialposition, changes in net position, or cash flows of the Authority.NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures arenot allowable or are limited as to reimbursement.NOTE 3 INDIRECT COST RATEThe Authority has elected not to use the 10-percent de minimis indirect cost rate asallowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.