Notes to SEFA
Title: Note 1 – Basis of Presentation
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Housing Authority of Pulaski County (Authority) and is presented on the accrual basis of accounting. The schedule summarizes the federal funds expended by the Authority under the programs of the federal government during the year ended March 31, 2023. The schedule of expenditures of federal awards displays the Authority’s expenditures charged to federal programs for the year ended March 31, 2023, the cost principals in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Authority has not implemented the 10 % de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not implement the de minimis cost rate.
The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Housing Authority of Pulaski County (Authority) and is presented on the accrual basis of accounting. The schedule summarizes the federal funds expended by the Authority under the programs of the federal government during the year ended March 31, 2023. The schedule of expenditures of federal awards displays the Authority’s expenditures charged to federal programs for the year ended March 31, 2023, the cost principals in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Authority has not implemented the 10 % de minimis indirect cost rate allowed under the Uniform Guidance.
Title: Note 2 – Sources of Funding
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Housing Authority of Pulaski County (Authority) and is presented on the accrual basis of accounting. The schedule summarizes the federal funds expended by the Authority under the programs of the federal government during the year ended March 31, 2023. The schedule of expenditures of federal awards displays the Authority’s expenditures charged to federal programs for the year ended March 31, 2023, the cost principals in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Authority has not implemented the 10 % de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not implement the de minimis cost rate.
The schedule includes all grants and contracts entered into directly between the Authority and agencies and departments of the federal government, as well as federal funds passed-through to the Authority by primary recipients. The Authority provided no part of its direct grant federal dollars to sub-recipients. The Authority did not receive any non-cash assistance from federal funds and had no federal insurance as of March 31, 2023.
Title: Note 3 - Reconciliation of Federal Expenditures
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of the Housing Authority of Pulaski County (Authority) and is presented on the accrual basis of accounting. The schedule summarizes the federal funds expended by the Authority under the programs of the federal government during the year ended March 31, 2023. The schedule of expenditures of federal awards displays the Authority’s expenditures charged to federal programs for the year ended March 31, 2023, the cost principals in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Authority has not implemented the 10 % de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Housing Authority did not implement the de minimis cost rate.
Total Federal Expenditures per Schedule of Federal Awards $1,606,306 - Reconciling item: Department of Agriculture, Rural Housing (Note 12) $-529,534 - Total Federal Assistance per Financial Statements $1,076,772 - HUD Grants $1,039,227 - Rural Development $37,545 - Total $1,076,772