Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIESThe schedule of expenditures of federal awards includes the federal grant activity of J.A.M.I. Douglas Housing Inc. for Douglas Terrace - HUD Project No. 176-HD009 and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.J.A.M.I. Douglas Housing, Inc. has elected not to use the 10% de minimis indirect cost rate.J.A.M.I. Douglas Housing, Inc. has a capital advance included on the schedule of expenditures of federal awards representing a loan balance of $2,061,800 as of June 30, 2022.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 2061800.