Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE 1 BASIS OF PRESENTATIONThe Schedule of Expenditures of Federal Awards includes the federal grant activity of 17 Lincoln Street,Inc. for the year ended June 30, 2022. The information in this schedule is presented in accordance with therequirements 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 this schedulepresents only a selected portion of the operations of 17 Lincoln Street, Inc., it is not intended to and doesnot present the financial position, changes in net assets, or cash flows of 17 Lincoln Street, Inc.NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES1. Expenditures reported on this schedule are reported on the accrual basis of accounting. Suchexpenditures 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.2. Pass-through entity identifying numbers are presented where available.3. 17 Lincoln Street, Inc. has not elected to use the 10% de minims indirect cost rate as allowedunder the Uniform Guidance.NOTE 3 SUMMARY OF PROGRAM EXPENDITURESProgram AmountsFederal Pass-Thru or Award Provided toProgram Title CFDA Grantor Number Amount Expenditures SubrecipientsDirect Programs:HUD - Capital advance 14.181 024-EH-197-WHH $845,500 $ 845,500HUD - Tenant rental assistance subsidy 14.181 024-EH-197-WHH 63,991 63,991$ 909,491Department of Housing and Urban DevelopmentSupportive Housing for Persons with Disabilities (Section 811):Capital advance (prior year) $ 845,500Tenant rental assistance subsidy (current year) 63,991$ 909,491
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 845500.