Notes to SEFA
Title: NOTE 1 – BASIS OF ACCOUNTING
Accounting Policies: BASIS OF ACCOUNTING The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Anacortes Housing Authority (the Authority) financial statements. The Authority uses the accrual basis
of accounting. The Authority’s accounting records are maintained in accordance with the methods prescribed by the State Auditor under the authority of Washington State law, Chapter 43.09 RCW. The Authority uses the revenue and expenditure classifications contained in the Financial and Accounting Handbooks prescribed by the Department of Housing and Urban Development (HUD).
De Minimis Rate Used: N
Rate Explanation: INDIRECT COSTS The Authority has elected not to use the ten percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the
Anacortes Housing Authority (the Authority) financial statements. The Authority uses the accrual basis
of accounting. The Authority’s accounting records are maintained in accordance with the methods
prescribed by the State Auditor under the authority of Washington State law, Chapter 43.09 RCW. The
Authority uses the revenue and expenditure classifications contained in the Financial and Accounting
Handbooks prescribed by the Department of Housing and Urban Development (HUD).
Title: NOTE 2 – PROGRAM COSTS
Accounting Policies: BASIS OF ACCOUNTING The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Anacortes Housing Authority (the Authority) financial statements. The Authority uses the accrual basis
of accounting. The Authority’s accounting records are maintained in accordance with the methods prescribed by the State Auditor under the authority of Washington State law, Chapter 43.09 RCW. The Authority uses the revenue and expenditure classifications contained in the Financial and Accounting Handbooks prescribed by the Department of Housing and Urban Development (HUD).
De Minimis Rate Used: N
Rate Explanation: INDIRECT COSTS The Authority has elected not to use the ten percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The amounts shown as current year expenditures represent only the federal grant portion of the program
costs for the fiscal year. Entire program costs, including the Authority’s portion, may be more than
shown.
Title: NOTE 3 – INDIRECT COSTS
Accounting Policies: BASIS OF ACCOUNTING The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Anacortes Housing Authority (the Authority) financial statements. The Authority uses the accrual basis
of accounting. The Authority’s accounting records are maintained in accordance with the methods prescribed by the State Auditor under the authority of Washington State law, Chapter 43.09 RCW. The Authority uses the revenue and expenditure classifications contained in the Financial and Accounting Handbooks prescribed by the Department of Housing and Urban Development (HUD).
De Minimis Rate Used: N
Rate Explanation: INDIRECT COSTS The Authority has elected not to use the ten percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Authority has elected not to use the ten percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Title: NOTE 4 – SUBRECIPIENTS
Accounting Policies: BASIS OF ACCOUNTING The Schedule of Expenditures of Federal Awards is prepared on the same basis of accounting as the Anacortes Housing Authority (the Authority) financial statements. The Authority uses the accrual basis
of accounting. The Authority’s accounting records are maintained in accordance with the methods prescribed by the State Auditor under the authority of Washington State law, Chapter 43.09 RCW. The Authority uses the revenue and expenditure classifications contained in the Financial and Accounting Handbooks prescribed by the Department of Housing and Urban Development (HUD).
De Minimis Rate Used: N
Rate Explanation: INDIRECT COSTS The Authority has elected not to use the ten percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The Authority did not grant funds to sub-recipients.