Notes to SEFA
Title: NOTE 3 – OUTSTANDING FEDERAL LOANS
Accounting Policies: Expenditures reported in 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 allowed. Assistance Listing numbers (“AL No.”) are provided when available.
De Minimis Rate Used: N
Rate Explanation: Crescent Terrace, Inc. elected not to use the 10% de minimis indirect cost rate.
The following represents the amount of outstanding loans identified by AL No. All loans are provided by HUD
and are included in the Schedule.
Prior year
loans with
Loans continuing Total
AL received compliance outstanding
No. Program title in 2024 requirements loans
14.218 Community Development
Block Grants $ - $ 600,000 $ 600,000
14.239 HOME Investment
Partnerships Program $ - $ 550,000 $ 550,000