Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 1. The accompanying schedule of Federal Awards includes the Federal Award activity of Antioch Hillcrest Terrace, Inc. under programs of the Federal Government for the year ended June 30, 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 Priniciples, and Requirements for Federal Awards (Uniform Guidance). 2. The accrual basis of accounting is used for expenditures of Federal Awards. 3. $4,895,800 Housing for the Elderly Loan on October 27, 2000, due to the U.S. Department of Housing & Urban Development (HUD), 0% interest, due December 1, 2045, continuing tenant eligibility requirements. $731,000 HOME loan on October 1, 1998, due October 1, 1998, due October 1 2038 to the County of Contra Costa, 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 4895800. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 731000.