Notes to SEFA
Title: Loans Outstanding
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (SEFA) includes the Federal assistance activity of the Agency 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).The Agencys consolidated financial statements include Facilities Management and Maintenance, Inc. (FM&M), which is not included in the accompanying SEFA for the year ended June 30, 2022, since FM&M is not subject to the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Supportive Housing for Persons with Disabilities expenditures listed on the previous page include loan balances totaling $1,234,815 as of June 30, 2022. The Home Investment Partnerships Program expenditures listed on the previous page include a loan balance totaling $87,000 as of June 30, 2022.