Audit 39034

Title: Loan/loan guarantee outstanding balances Accounting Policies: Basis of Presentation - The schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Lee Central Enriched Housing, Inc. under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR), Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Lee Central Enriched Housing, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Lee Central Enriched Housing, Inc. Summary of Significant Accounting Policies - Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. 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 4934700.