Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note 1 Summary of Significant Accounting PoliciesBasis of Presentation - This schedule includes the activity of Salvation Manor, Inc. (HUD Project No. 064-EE-108) and is presented on the accrual basis of accounting. The information in this schedule is presentedin accordance with the audit requirements of Title 2 U.S. Code of the Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance).Indirect Cost Rate - Salvation Manor, Inc. did not use the 10% de minimis cost rate.Loan/Loan Guarantee Outstanding Balance - Supportive Housing for the Elderly Capital Advance -The balance outstanding at the end of the audit period was $917,600.
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 917600.