Notes to SEFA
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 Chalon Living, Inc. HUD Project No. 123-EE024, and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Chalon Living, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Chalon Living, Inc.
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 1975400.