Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 3.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe schedule of expenditures of expenditures and federal awards for the Upsala Elder Housing Corporation is recorded 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. Upsala Elder Housing Corporation has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 4536000. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 365000.