Notes to SEFA
An extensive compliance test, as required by Title 2 US Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), was performed on the Supportive Housing for the Elderly Section 202 program, which represents 100% of the total expenditures reflected on the Schedule of Federal Financial Assistance. The 20% of coverage test for a low risk auditee was satisfied as follows: Supportive Housing for the Elderly Section 202 - Capital Advance 14.157 $2,452,900; Supportive Housing for the Elderly Section 202 - PRAC 14.157 $157,716; Supportive Housing for the Elderly Section 202 - PRAC Special Claims 14.157 $2,185 Minimum Amount Which Must Be Tested $2,612,801 times 20% totals $522,560. The Supportive Housing for the Elderly Section 202 program exceeds $522,560, and, therefore, represents the only program to which thespecific compliance requirements must be applied.
The $2,452,900 of the Supportive Housing for the Elderly Section 202 program represents the outstanding loan balance as of September 30,2025.