Audit 51440

Title: Loan/loan guarantee outstanding balances Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of HALL COMMONS, INC., under programs of the federal government for the fiscal year ended December 31, 2022. The information in this schedule is presented in accordance with the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of HALL COMMONS, INC., it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures 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 to reimbursement. NOTE C INDIRECT COST RATEHALL COMMONS, INC. has elected not to use the 10% de minimis indirect cost rate allowance under the Uniform Guidance. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. There are no indirect costs reimbursable under this award. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balance outstanding at the end of the audit period was $4,613,000.