Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Expenditures related to the Supportive Housing for the Elderly (Section 202) – Capital Advance are recognized following the cost principles contained in OMB Circular A-122, Cost Principles for Non-profit Organizations. Expenditures related to the Supportive Housing for the Elderly (Section 202) – Project Rental Assistance Contract 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: 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 2676700.