Notes to SEFA
Title: Loan Programs
Accounting Policies: 1.Basis of presentationThe accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures on the accrual basis of Carrfour Supportive Housing, Inc. (a Florida non-profit corporation) and subsidiaries under programs of the federal government for the year ended December 31, 2022. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200 Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of the basic consolidated financial statements.For purposes of the Schedule, federal awards include all sub awards to the organization by nonfederal organizations pursuant to federal grants, contracts, and similar agreements.2.Summary of significant accounting policiesExpenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed. Assistance Listing numbers (Assistance Listing No.) are provided when available.
De Minimis Rate Used: N
Rate Explanation: Carrfour Supportive Housing, Inc. and subsidiaries elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
Carrfour Supportive Housing, Inc. and subsidiaries have received a loan insured by HUD under Section 221(d)(4) of the National Housing Act. The balance of the loan outstanding at December 31, 2022 consists of: Assistance Listing No: 14.135; Program Name: Mortgage Insurance Rental and Cooperative Housing for Moderate Income and Elderly, Market Interest Rate; Loans Received in 2022: $151,109; Prior Year Loans with Continuing Compliance Requirements: $3,587,074; Total Outstanding Loans: $3,738,138. Carrfour Supportive Housing, Inc. has received multiple HOME Investment Partnership Program loans through the City of Miami and Miami-Dade County. The balance of the loans outstanding at December 31, 2022 consists of: Assistance Listing No: 14.239; Program Name: HOME Investment Partnership Program; Loans received in 2022: $245,151; Prior Year Loans with Continuing Compliance Requirements: $3,029,820; Total Outstanding Loans: $3,274,971. Carrfour Supportive Housing, Inc. has received a Community Development Block Grant Program loan through the City of Miami Gardens. The balance of the loan outstanding at December 31, 2022 consists of: Assistance Listing No: 14.218; Program Name: Community Development Block Grant; Loans Received in 2022: $0; Prior Year Loans with Continuing Compliance Requirements: $1,355,338; Total Outstanding Loans: $1,355,338. Carrfour Supportive Housing, Inc. has received a Housing Opportunities for Persons with AIDS Program loan through the City of Miami. The balance of the loan outstanding at December 31, 2022 consists of: Assistance Listing No: 14.241; Program Name: Housing Opportunities for Persons with AIDS; Loans Received in 2022: $0; Prior Year Loans with Continuing Compliance Requirements: $296,492; Total Outstanding Loans: $296,492.