Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note A BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awardactivity of Our House, Inc. under programs of the federal government for the year ended June 30, 2022.The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of Our House, Inc., it is not intended to and does not present the financial position,changes in net assets, or cash flows of Our House, Inc.NOTE BSUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement.NOTE CINDIRECT COST RATEOur House, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under theUniform Guidance.NOTE DLOANSFederal expenditures for the Economic Injury Disaster loan program includes $150,000 of loans outstandingas of June 30, 2022 for which the grantor imposes continuing compliance requirements.- 30
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
DISASTER ASSISTANCE LOANS (59.008) - Balances outstanding at the end of the audit period were 150000.