Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 1.Basis of AccountingThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of Plum Presbyterian Senior Housing, Inc. d/b/a Plum Creek Acres (the Corporation) and is prepared using the accrual basis of accounting.2.Relationship to Basic Financial StatementsThe information in the 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 Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in the Schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS (14.155) - Balances outstanding at the end of the audit period were 1569884.