Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note 1- Basis of PresentationThe accompanying schedule of expenditures of federal awards (SEFA) includes the federal awards activity ofGrand Prairie Gardens, Inc. (the Organization), HUD Project No. 082-EE110-NP-L8 and is presented on theaccrual basis of accounting. The information in this schedule is presented in accordance with the requirements ofTitle 2 U.S. Code of Federal Regulations Part 200, Uniform Administration Requirements, Cost Principals, andAudit Requirements for Federal Awards (Uniform Guidance). Because the SEFA presents only a selected portionof the operations of the Organization, it is not intended to and does not present the financial position, changes innet assets, or cash flows of the Organization.
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 1960100.