Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE ABASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes an outstanding section 811 capital advance of $1,137,800 for Jonesboro Haven, Inc., HUD Project No. 064-HD099, and is presented on the accrual basis of accounting. The schedule also includes section 811 housing assistance payments of $23,634. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Because the Schedule presents only a selected portion of the operations of Jonesboro Haven, Inc., HUD Project No. 064-HD099, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Jonesboro Haven, Inc., HUD Project No. 064-HD099.NOTE BBASIS OF ACCOUNTINGThe accompanying schedule of expenditures of federal awards is prepared on the same basis as the Organizations financial statements. The Organization uses the accrual method of accounting. The expenditures represent only the federally funded portions of the Organization.NOTE CFEDERAL DE MINIMIS INDIRECT RATE The Organization has elected to use the de minimis 10% indirect cost allowed under the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 1137800.