Notes to SEFA
Title: Loan/loan Guarantee outstanding balances
Accounting Policies: Expenditures reported on the schedule are reported on the accruel basis of accunting. Such expenditures 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.
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 $7,286,152.
Title: US Department of Housing and Human Development Capital Advance Program
Accounting Policies: Expenditures reported on the schedule are reported on the accruel basis of accunting. Such expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization has received a U.S Department of Housing and Urban Development capital advance under section 202 of the national housing act. The capital advance balance outstanding at the beginning of the year is included in the federal expenditures presented in the schedule. The Organization received no additional capital advances during the year. The balance of the capital advance outstanding at June 30, 2024 is $7,286,152.