Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 5106700. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 1440000.
Title: Section 8 Housing Assistance Payments
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The residential housing subsidiaries that are consolidated with Brothers Redevelopment, Inc. received Section 8 Housing Assistance Payments during the fiscal year ending September 30, 2022 as follows:PropertyHUD Project No.HAPCorona Residence ApartmentsCO99H001010 $505,725 Edgewater PlazaCO99T791002 659,957 Jefferson Terrace Senior HousingCO99T821017 216,545 Sheridan Glen Housing, Inc.CO99T861004 746,177 Sunnyside Senior Apartments, Inc.CO99T851008 161,312 La Alma Housing, LTD. (12/31/21)101-35304 289,383 Brook Haven Apartments, Inc.CO99RM00004 459,609 Clayton Street Residences, Inc.CO99RM00006 83,884 Decatur Street Residences, Inc.CO99RM00007 107,845 Federal View ApartmentsCO99RM00003 329,864 Garfield Apartments, Inc.CO99RM00005 393,438 Victor F. Smith Senior Housing 22,114 Total $3,929,943