Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE A Basis of PresentationThe accompanying schedule of expenditures of federal awards includes the federal grant activity of ProjectLinkage Housing Development Fund Corporation and is presented on the accrual basis of accounting. Theinformation in this schedule is presented in accordance with the requirements of Uniform Guidance.Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in thepreparation of, the basic financial statements.NOTE B Summary 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. Project Linkage Housing DevelopmentFund Corporation has elected not to use the 10-percent de minimis indirect cost rate allowed under theUniform Guidance.NOTE C U.S. Department of Housing and Urban Development Loan ProgramProject Linkage Housing Development Fund Corporation has received a U.S. Department of Housing andUrban Development Capital Advance under Section 202 of the National Housing Act. The Capital Advancebalance outstanding at the beginning of the year is included in the federal expenditures presented in theSchedule. Project Linkage Housing Development Fund Corporation received no additional CapitalAdvances during the year. The balance of the Capital Advance outstanding at December 31, 2022 consistsof:Outstanding BalanceCFDA Number Program Name at December 31, 202214.157 Supportive Housing for the Elderly $ 7,009,400
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR THE ELDERLY SECTION 202 CAPITAL ADVANCE (14.157) - Balances outstanding at the end of the audit period were 7009400.