Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The schedule of expenditures of federal awards includes the federal grant activity of Independent Housing ResourcesEast, Inc., HUD Project No. 033-EH272/PA28-T881-010, and is presented on the accrual basis of accounting.The information in this schedule is presented in accordance with the requirement of Title 2. U.S. Code of FederalRegulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirementsfor Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ fromamounts presented in, or used in the preparation of the financial statements.
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 714843.