Audit 24654

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 Century PlazaHousing Corporation of Topeka and is presented on the accrual basis of accounting. The information in thisschedule is presented 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 (UniformGuidance). Because the Schedule presents only a selected portion of the operations of Century Plaza HousingCorporation of Topeka, it is not intended to and does not present the financial position, changes in net assets, orcash flows of Century Plaza Housing Corporation of Topeka.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types of expendituresare not allowable or are limited as to reimbursement. Century Plaza Housing Corporation of Topeka has elected notto use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.NOTE C U.S. Department of Housing and Urban Development Loan ProgramCentury Plaza Housing Corporation of Topeka has received a U.S. Department of Housing and Urban DevelopmentCapital Advance under Section 202 of the National Housing Act. The Capital Advance balance outstanding at thebeginning of the year is included in the federal expenditures presented in the Schedule. Century Plaza HousingCorporation of Topeka received no additional Capital Advances during the year. The balance of the Capital Advanceoutstanding at December 31, 2022 consists of:Outstanding BalanceCFDA Number Program Name at December 31, 202214.157 Supportive Housing for the Elderly $ 1,790,800 De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR THE ELDERLY: SECTION 202 CAPITAL ADVANCE (14.157) - Balances outstanding at the end of the audit period were 1790800.