Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activities in the federal assistance programs of the Organization. All financial awards received directly or indirectly from federal agencies are included on the schedule. The information in this schedule is presented in accordance with the requirements of OMB Compliance Supplement. The accompanying schedule of expenditures of federal awards has been prepared on the accrual basis of accounting. Management believes all federal awards considered necessary for a fair presentation in accordance with Government Auditing Standards have been included. Amounts reported in the accompanying schedule agree with amounts reported in the Organizations financial statements.
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 5636200.