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 award activity of Christian Task Force, Inc. (a Texas Non-Profit Corporation) dba Christian Village Apartments HUD Project No. 115-EH016-L8-WAH 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). Because the Schedule presents only a selected portion of the operations of Christian Task Force, Inc. (a Texas Non-Profit Corporation) dba Christian Village Apartments, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Christian Task Force, Inc. (a Texas Non-Profit Corporation) dba Christian Village Apartments.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.NOTE B-SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures 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 allowable or are limited as to reimbursement. Christian Task Force, Inc. (a Texas Non-Profit Corporation) dba Christian Village Apartments had elected not to use the 10-percent de minimis indirect cost rate allowed under Uniform Guidance.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 94093. NOTE C-U.S. Department of Housing and Urban Development Loan ProgramChristian Task Force, Inc. (a Texas Non-Profit Corporation) dba Christian Village Apartmentshas received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Christian Task Force, Inc. (a Texas Non-Profit Corporation) dba Christian Village Apartments received no additional loans during the year. The balance of the loan outstanding at September 30, 2022 consists of: