Notes to SEFA
Title: Reporting Guidance
Accounting Policies: Expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The Montpelier Housing Authority has elected not to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards has beenprepared following the guidance provided by the U.S. Authority of Housing and UrbanDevelopments Real Estate Assessment Center (REAC).