Notes to SEFA
Title: Loans Outstanding
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal assistance activity of the Agency and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
AL # 14.314, The Assisted Living Conversion for Eligible Multifamily Housing Projects has no outstanding loan balance at June 30, 2022.