Notes to SEFA
Title: Note Payable
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following the cost principles contained in Uniform Administrative Requirements, Cost Principles and Audit
Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Project has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Project has the following note payable balance:
Assistance Listing Balance as of Number Program Name June 30, 2023 Supportive Housing for Persons with
14.181 Disabilities - Section 811 Capital Advance $ 1,081,100