Audit 33295

Title: Loan/loan guarantee outstanding balances Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of ALA Elderly Housing, Inc. d/b/a Camellia Gardens under programs of the federal government for the year ended December 31, 2022. The information in this 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 (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of ALA Elderly Housing, Inc. d/b/a Camellia Gardens, it is not intended to and does not present the financial position, changes in net assets, or cash flows of ALA Elderly Housing, Inc. d/b/a Camellia Gardens. De Minimis Rate Used: N Rate Explanation: Expenditures reported on the Schedule are reported on the accrual basis of accounting. 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. ALA Elderly Housing, Inc. d/b/a Camellia Gardens has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 728851.