Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note B Summary of Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as reimbursement. Edificio Ovidio Lamoso Coira has elected not to use the 10-percent de minimis indirect cost rate. The Project is governed by the rules and regulations of the U.S. Department of Housing and Urban Development (HUD). The use of the 10-percent de minimis indirect costs rate is allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate. The use of the 10-percent de minimis indirect costs rate is allowed under the Uniform Guidance.
SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 4777000.