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, and loanguarantee agreements entered into directly between the Corporation and agencies and departments of the federal government.For the year ended December 31, 2022, the Corporation had no expenditures in the form of noncash assistance, had nofederally funded insurance in effect for the year, and had no sub recipients. The accompanying schedule of expenditures offederal 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 PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 1987800.
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, and loanguarantee agreements entered into directly between the Corporation and agencies and departments of the federal government.For the year ended December 31, 2022, the Corporation had no expenditures in the form of noncash assistance, had nofederally funded insurance in effect for the year, and had no sub recipients. The accompanying schedule of expenditures offederal 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 PRAIRIE VIEW VILLAS NO. 1 are included in the scope of the U.S. Office of Management andBudget (OMB) Uniform Guidance audit.Under Government Auditing Standards and U.S. Department of Housing and Urban Development (HUD) Regulations, theSupportive Housing For Persons with Disabilities program is considered a major program.
Title: Other OMB Uniform Guidance Audits
Accounting Policies: For purposes of the schedule of expenditures of federal awards, federal awards include all grants, contracts, loans, and loanguarantee agreements entered into directly between the Corporation and agencies and departments of the federal government.For the year ended December 31, 2022, the Corporation had no expenditures in the form of noncash assistance, had nofederally funded insurance in effect for the year, and had no sub recipients. The accompanying schedule of expenditures offederal 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.
Tazwood has other affiliates that have expended more than $750,000 in federal awards, which have separate OMB UniformGuidance audits, which are not included in the accompanying schedule of expenditures of federal awards.