Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Basis of Presentation: The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of Marietta Jaycees Elderly Housing Corporation, HUD Projects 043-11133, and is presented on the accrual basis of accounting. The information in this schedule 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Significant Accounting Policies: (a) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. (d) There were no sub-recipients for the year ended December 31, 2022. (e) The original Section 202 Direct Loan was refinanced during 2007 under Section 207, pursuant to 223(f) loan. Under the new regulatory agreement the project must still comply with the requirements of the original Section 202 Direct Loan regulatory agreement.
De Minimis Rate Used: N
Rate Explanation: Marietta Jaycees Elderly Housing Corporation has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 2967982.