Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Schedule of Federal Awards includes the Federal grant activity of Chatfield Senior Housing, Inc. and is presented on the accrual basis of accounting. Chatfield Senior Housing, Inc. has not charged indirect costs to any federal programs. Therefore the election of the de minimis indirect cost rate is not applicable as allowed under the Uniform Guidance.
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 730544.