Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE A - BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal award activity of CouleeHomes, Ltd. and is presented on the accrual basis of accounting. The information in this schedule ispresented 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 the operations of CouleeHomes, Ltd., it is not intended to and does not present the financial position, changes in net assets, or cashflows of Coulee Homes, Ltd.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Coulee Homes, Ltd. has elected not touse the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.NOTE C U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAMCoulee Homes, Ltd. has received a U.S. Department of Housing and Urban Development Capital Advanceunder Section 811 of the National Housing Act. The Capital Advance under Section 811 balanceoutstanding at the beginning of the year is included in the federal expenditures presented in the Schedule.Coulee Homes, Ltd. received no additional Capital Advance loans during the year. The balance of theCapital Advance outstanding at December 31, 2022 consists of:CFDANumber Program NameOutstanding Balanceat December 31, 2022Supportive Housing for Persons with Disabilities(Section 811 Capital Advance)14.181 $ 1,042,400
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 1042400.