Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grantactivity of Bayou La Batre VOA Elderly Housing, Inc., HUD Project No. 062-EE082,and is presented on the accrual basis of accounting. The information in this schedule ispresented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Therefore, some amountspresented in this schedule may differ from amounts presented in, or used in thepreparation of, the basic financial statements.
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 2737168.