Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE A- BASIS PRESENTATIONThe above schedule of expenditures of federal awards includes the federal activity of Vine Street Manor Housing Corporation, HUD Project No. 084-EE056, 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 for Federal Awards (Uniform Guidance). Therefore, some of the amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of the basic financial statements.NOTE B - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported in the Schedule of Expenditures of Federal Awards are reported based upon generally accepted accounting principles of the United States of America.NOTE C - SUB-RECIPIENTSThere were no sub-recipients of Vine Street Manor Housing Corporation.NOTE D - INDIRECT COST RATEVine Street Manor Housing Corporation. has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
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 5591000.