Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: (A)BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal grant activity of Serenity Village of Opelousas, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of 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 721500. See Note G to the financial statements for further details.