Audit 36555

Title: Loan/loan guarantee outstanding balances Accounting Policies: Note A - Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal award activity of TheBrookdale Residence Housing Development Fund Corporation and is presented on the accrual basis ofaccounting. The information in this schedule is presented in accordance with the requirements of Title 2U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only aselected portion of the operations of The Brookdale Residence Housing Development Fund Corporation, itis not intended to and does not present the financial position, changes in net assets, or cash flows of TheBrookdale Residence Housing Development Fund Corporation.Note B Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. The Brookdale Residence HousingDevelopment Fund Corporation has elected not to use the 10-percent de minimis indirect cost rate allowedunder the Uniform Guidance.Note C U.S. Department of Housing and Urban Development Loan ProgramThe Brookdale Residence Housing Development Fund Corporation has received a U.S. Department ofHousing and Urban Development Capital Advance under Section 202 of the National Housing Act. TheCapital Advance balance outstanding at the beginning of the year is included in the federal expenditurespresented in the Schedule. The Brookdale Residence Housing Development Fund Corporation received noadditional Capital Advances during the year. The balance of the Capital Advance outstanding at December31, 2022 consists of:Outstanding BalanceCFDA Number Program Name at December 31, 202214.157 Supportive Housing for the Elderly $ 8,568,100 De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. SUPPORTIVE HOUSING FOR THE ELDERLY SECTION 202 CAPITAL ADVANCE (14.157) - Balances outstanding at the end of the audit period were 8568100.