Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 1. The accompanying schedule of Federal Awards includes the Federal Award activity of Jefferson Street Senior Housing Corporation under programs of the Federal Government for the year ended December 31, 2022. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Requirement for Federal Awards. 2. The accrual basis of accounting is used for Expenditures of Federal Awards. 3. $921,600 HOME loan on April 28, 2003, due to California Department of Housing & Community Development, continuing tenant eligibility requirements. $7,937,800 Housing for the Elderly loan on April 1, 2003, due to HUD, continuing tenant eligibility requirements.
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 7937800. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 921600.