Notes to SEFA
Title: Note 3
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal award activity of the Project
under programs of the federal government for the yearended September 30, 2022. The information in the Schedule is
presented in accordance withthe requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (the UniformGuidance). Because the
Schedule presents only a selected portion of the operations of theProject, it is not intended to and does not present the
financial position, changes in net assets(deficit), or cash flows of the Project.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized
following, as applicable, either the cost principles in the U.S.Office of Management and Budget Circular A‐122, Cost Principles
for Non‐ProfitOrganizations, or the cost principles contained in the Uniform Guidance, wherein certain typesof expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Loan/loan guarantee outstanding balances: SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) ‐ Balances outstanding at the end of the audit period were 1330400.
Title: Note 4
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal award activity of the Project
under programs of the federal government for the yearended September 30, 2022. The information in the Schedule is
presented in accordance withthe requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (the UniformGuidance). Because the
Schedule presents only a selected portion of the operations of theProject, it is not intended to and does not present the
financial position, changes in net assets(deficit), or cash flows of the Project.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized
following, as applicable, either the cost principles in the U.S.Office of Management and Budget Circular A‐122, Cost Principles
for Non‐ProfitOrganizations, or the cost principles contained in the Uniform Guidance, wherein certain typesof expenditures
are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Capital Advance Program: See Note 5 in the accompanying notes to financial statements for additional information on the Capital Advance Program.