Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards expenditures of Breaking Ground Housing Development Fund Corporation and Affiliates (collectively, Breaking Ground) for the year ended December 31, 2022. The information presented in this Schedule has been prepared on the accrual basis of accounting and 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in or used in the preparation of the basic consolidated financial statements. Included within the Schedule is a 202 Advance loan program within CFDA 14.157. There were no new loans processed or payments received during the year ended December 31, 2022.
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 22265900.