Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE A - BASIS OF PRESENTATIONThe schedule of expenditures of federal awards includes the federal grant activity of Westlake Elderly Apartments, Inc., HUD Project No. 033-EE101 and is presented on the accrual basis. The information in this schedule is presented in accordance with the requirement 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 financial statements.
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 2086668.