Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in OMB Circular A-122, "Cost Principles for Non-ProfitOrganizations" or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures arenot allowable or are limited as to reimbursement.
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 3301400.
Title: Note 4: Section 202 Capital Advance
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in OMB Circular A-122, "Cost Principles for Non-ProfitOrganizations" or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures arenot allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Alice Williams Towers, Inc.'s has received a capital advance under the Section 202 Capital Advance program. Thefull amount received under the capital advance of $3,301,400 is included in the federal expenditures presented onthe Schedule.
Title: Note 1: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in OMB Circular A-122, "Cost Principles for Non-ProfitOrganizations" or the cost principles contained in the Uniform Guidance, wherein certain types of expenditures arenot allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity ofAlice Williams Towers, Inc. under programs of the federal government for the year ended December 31, 2022. Theinformation in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of AliceWilliams Towers, Inc., it is not intended to and does not present the financial position, changes in net assets or cashflows of Alice Williams Towers, Inc.