Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal grant activity of HDC Foundation, Inc., HUD PROJECT NO. 067-HH004, 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the presentation of, the basic financial statements. The organization has not elected to use the 10% deminimus cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 749600.