Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE B SIGNIFICANT ACCOUNTING POLICIES1.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 Guide, wherein certain types of expenditures are not allowable or are limited as to reimbursement.2.The above programs on page 10 and 11, 14.218 Community Development Block Grant Program, 14.181, Giddings Corporation Capital Advance Program, and 14.181, Housing Assistance Payments Program, are low risk Type A and B programs. 14.157 Housing Assistance Payments Program, and 14.191 Service Coordinator Program are high risk Type A and B programs. 3. The Oak Park Residence Corporation has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) - Balances outstanding at the end of the audit period were 2576827. SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 1618400.