Notes to SEFA
Title: Outstanding Loan Balance
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB A-122 or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: AAA Elderly Housing - Heritage Court of Crossett, Inc. dba William “Bill” Sanders Manor has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
AAA Elderly Housing - Heritage Court of Crossett, Inc. d/b/a William “Bill” Sanders Manor – U.S. Department of Housing and Urban Development (HUD) Project No. 082-EE122-NP-L8 did not have a balance outstanding due to any federal loan programs included in basic financial statements at June 30, 2023. The mortgage note with HUD through Supportive Housing for the Elderly program was recorded as a contribution from HUD due to the terms described in the notes to the financial statements.