Notes to SEFA
Title: Loan/loan guarantee outatanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the
federal award activity of Hancock Estates Corporation under programs of the federal government
for the year ended March 31, 2024. 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
Hancock Estates Corporation, it is not intended to and does not present the financial position,
changes in net assets, or cash flows of Hancock Estates Corporation. 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.
De Minimis Rate Used: Y
Rate Explanation: Hancock Estates Corporation has elected to use the 10% de minimis indirect cost rate as allowed
under the Uniform Guidance..
Supportive Housing for the Elderly(14.157)- Balances outatanding at the end of the audit period were $4,229,000