Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following, as applicable, either the cost principles contained in OMB A-122 or the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited asto reimbursement. AAA Elderly Housing - Heritage Villa of Pine Bluff, Inc. has elected not to use the 10percent de minimis indirect cost rate 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 1118700.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following, as applicable, either the cost principles contained in OMB A-122 or the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited asto reimbursement. AAA Elderly Housing - Heritage Villa of Pine Bluff, Inc. has elected not to use the 10percent de minimis indirect cost rate as allowed under the Uniform Guidance
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awardactivity of the Project under programs of the federal government for the year ended June 30, 2022. Theinformation in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of FederalRegulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ fromamounts presented in, or used in the preparation of, the basic financial statements. Because the Schedulepresents only a selected portion of the operations of the Project, it is not intended to and does not present thefinancial position, changes in net assets or cash flows of the Project.