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 expendituresare recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles forNon-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,wherein certain types of expenditures are not allowable or are limited as to reimbursement. JulietteCorporation has elected to use the 10-percent de minimis indirect cost rate as allowed under the UniformGuidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The federal loan programs listed below are administered directly by Juliette Corporation and balances andtransactions relating to these programs are included in Juliette Corporation's basic financial statements.Loans outstanding at the beginning of the year and loans made during the year are included in the federalexpenditures presented in the Schedule. The balance of loans outstanding as of June 30, 2022 consists of: SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 125064.
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following, as applicable, either the cost principles in OMB Circular A-122, Cost Principles forNon-Profit Organizations, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards,wherein certain types of expenditures are not allowable or are limited as to reimbursement. JulietteCorporation has elected to use the 10-percent de minimis indirect cost rate as allowed under the UniformGuidance.
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 Juliette Corporation under programs of the federal government for the year ended June 30, 2022.The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of Juliette Corporation, it is not intended to and does not present the financialposition, changes in net assets, or cash flows of Juliette Corporation.