Notes to SEFA
Title: Note 3:
Accounting Policies: The schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Corporation elected to not use the 10% de minimis cost rate.
The balance of the Supportive Housing Program loans as of December 31, 2023 is $400,000; the balance of the HOME Investment Partnership Program loans as of December 31, 2023 are $764,000, $1,000,000, $1,510,971, and $1,264,296; the balance of the Housing Opportunities for Persons with AIDS loans as of December 31, 2023 are $90,000 and $90,000; the balance of the Economic Development Initiative-Special Project, and Neighborhood Initiative and Miscellaneous Grants as of December 31, 2023 is $712,500; the balance of the Capital Magnet Fund loans as of December 31, 2023 are $276,776 and $990,000; the balance of the Coronavirus State and Local Fiscal recovery funds as of December 31, 2023 is $4,341,783.