Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of Gran Signora Development Corporation, HUD Project No. 042-11115 under programs of the federal government for the year ended December 31, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations, it is not intended to and does not present the financial position, changes in net assets or cash flows of Gran Signora Development Corporation.
De Minimis Rate Used: N
Rate Explanation: Note C - Indirect Cost RateThe Corporation has elected not to use the 10% de minimis cost rate allowed under the Uniform Guidance.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 1240028.