Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: ) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.Louie Street Apartments, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 1365318.