Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: For purposes of the schedule of expenditures of federal awards, federal awards include all grants, contracts, loans, andloan guarantee agreements entered into directly between the Corporation and agencies and departments of the federalgovernment. For the year ended June 30, 2022, the Corporation had no expenditures in the form of noncash assistance,had no federally funded insurance in effect for the year, and had no sub recipients. The accompanying schedule ofexpenditures of federal awards is prepared on the accrual basis of accounting.
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 6729700.
Title: SCOPE OF AUDIT PURSUANT TO UNIFORM GUIDANCE
Accounting Policies: For purposes of the schedule of expenditures of federal awards, federal awards include all grants, contracts, loans, andloan guarantee agreements entered into directly between the Corporation and agencies and departments of the federalgovernment. For the year ended June 30, 2022, the Corporation had no expenditures in the form of noncash assistance,had no federally funded insurance in effect for the year, and had no sub recipients. The accompanying schedule ofexpenditures of federal awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
All federal grant activities of CASL HOUSING CORPORATION are included in the scope of the U.S. Office ofManagement and Budget Uniform Guidance audit.Under Government Auditing Standards and U.S. Department of Housing and Urban Development (HUD)sRegulations, Supportive Housing for the Elderly is considered a major program.