Audit 30100

Title: Loan/loan guarantee outstanding balances Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of New Meadow Elderly Housing, Inc., 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 Regulatons Part 200, of the Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). The schedule presents only a selected portion of the operations of New Meadow Elderly Housing, Inc. It is not intended to, and does not present, the financial position or changes in net assets of New Meadow Elderly Housing, Inc. De Minimis Rate Used: Y Rate Explanation: The auditee used the de minimis cost rate. 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 allowable or are limited as to reimbursement. New Meadow Elderly Housing, Inc., has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. New Meadow Elderly Housing, Inc. has received a U.S. Department of Housing and UrbanDevelopment Section 202 Capital Advance. The balance outstanding at the beginning of theyear is included in the federal expenditures presented in the schedule. New Meadow Elderly Housing, Inc., received no additional loans during the year. The balance of the loan outstanding at September 30, 2022, consists of: SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 5233800.