Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 1. The accompanying schedule of Federal Awards includes the Federal Award activity of Sojourner Truth Housing, Inc. under the programs of the Federal Government for the year ended March 31, 2022. 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 Requirements for Federal Awards. (Uniform Guidance) 2. The accrual basis of accounting is used for Expenditures of Federal Awards. 3. $241,261 HUD loan on March 19, 2014 and $162,100 HOME loan on May 17, 2006 due to the City of Oakland, continuing tenant eligibility requirements.
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 241261. MORTGAGE INSURANCE_RENTAL HOUSING (14.134) - Balances outstanding at the end of the audit period were 925390. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 160650.