Notes to SEFA
Title: MAJOR PROGRAMS
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal grant activity of the Bristol Redevelopment and Housing Authority under programs of the federal government for the year ended March 31, 2023. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of operations of the Authority, it is not intended to and does not present the net position, changes in net position or cash flows of the Authority. Some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
The (*) to the right of an Assistance Listing Number identifies the grant as a major federal program as defined by Title 2 Part 200 (Uniform Guidance).
Title: AWARD BALANCE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal grant activity of the Bristol Redevelopment and Housing Authority under programs of the federal government for the year ended March 31, 2023. The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of operations of the Authority, it is not intended to and does not present the net position, changes in net position or cash flows of the Authority. Some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the financial statements.
De Minimis Rate Used: N
Rate Explanation: The Authority has elected not to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
On the Housing Choice Voucher programs, the Authority receives annual funds based on an annual estimate of need. Any Housing Assistance funds received in excess of current year payments is restricted for payment of future Housing Assistance payments.