Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note 1 Summary of Significant Accounting PoliciesBasis of Presentation - This schedule includes the activity of NBC Housing, Inc. Fourteen, SouthfieldTabernacle Commons and is presented on the accrual basis of accounting. The information in this scheduleis presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance).Indirect Cost Rate Southfield Tabernacle Commons did not use the de minimis cost rate.Loan/Loan Guarantee Outstanding Balance - Supportive Housing for the Elderly Mortgage Payable -The balance outstanding at the end of the audit period was $536,125.
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 536125.