Notes to SEFA
Title: Loans Outstanding
Accounting Policies: The Mohn Street Accessible Housing, Inc. is the reporting entity for financial purposes as defined in Note 1A to the Mohn Street Accessible Housing Inc.'s financial statements. The accompanying Schedule of Expenditures of Federal Awards includes the grant activity of the Mohn Street Accessible Housing Inc. and is presented on the accrual basis of accounting as described in Note 1B to the Mohn Street's Accessible Housing Inc.'s financial statements
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Mohn Street Accessible Housing Inc. had the following loan balance outstanding at June 30, 2022. This outstanding loan balance is the expenditure presented in the Schedule of Expenditures of Federal Awards. Program Title: Supportive Housing for Persons with Disabilities. Federal ALN#: 14.181. Amount Outstanding: $1,551,400.