Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal program activity ofHumboldt Park Elderly Housing Corporation and is presented on the accrual basis of accounting. Theinformation in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirementfor Federal Awards. Therefore, some amounts presented in this schedule may differ from amounts presentedin, or used in the preparation of, the basic financial statements.Humboldt Park Elderly Housing Corporation was organized as a Not-For-Profit Corporation under the laws ofthe State of Illinois to construct, hold, and operate an apartment complex (the Project). The Project consists of59 units located in Chicago, Illinois known as Plaza Taino Apartments.
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 3762000.