Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note 1. Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal grant activityof Richland Four-Ninety, Inc. and is presented on the accrual basis of accounting. Theinformation in this schedule is presented in accordance with the requirements of UniformGuidance, Audits of States, Local Governments, and Non-Profit Organizations. Because theschedule presents only a selected portion of the operations of Richland Four-Ninety, Inc., it isnot intended to and does not present the financial position, changes in net assets, or cash flows ofRichland Four-Ninety, Inc.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 782500.