Notes to SEFA
Accounting Policies: NOTE 1 GENERALThe accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal awards programs of the Housing Authority of the Parish of Caldwell. The Housing Authority reporting entity is defined in Note 1 to the Housing Authoritys basic financial statements. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on the schedule.NOTE 2 - BASIS OF ACCOUNTINGThe accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the Housing Authoritys basic financial statements.NOTE 3 - RELATIONSHIP TO BASIC FINANCIAL STATEMENTSFederal awards revenues are reported in the Housing Authoritys basic financial statements as follows:Governmental operating grants$ 1,008,994Capital grants 306,923__________Total$ 1,315,917=========NOTE 4 - RELATIONSHIP TO FEDERAL FINANCIAL REPORTSAmounts reported in the accompanying schedule agree with the amounts reported in the related federal financial reports except for changes made to reflect amounts in accordance with accounting principles generally accepted in the United States of America.NOTE 5 DE MINIMIS INDIRECT COST RATEThe Housing Authority did not elect to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.