Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE A-BASIS OF PRESENTATIONThe above schedule of expenditures of federal awards includes the federal awards of Enon-Toland Germantown Development Corporation T/A Enon-Toland Newhall Manor, HUD Project No. 034-EH317, and is presented on the accrual basis of accounting. 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 Audit Requirements of Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of June 30, 2022, it is not intended to and does not represent the financial positions, changes in net assets or cash flows of Enon-Toland Germantown Development Corporation T/A Enon-Toland Newhall Manor.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. Enon-Toland Germantown Development Corporation T/A Enon-Toland Newhall Manor has elected not to use the 10-percent de minims indirect cost rate allowed under the Uniform Guidance.
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 894786.
Title: NOTE C-U.S. DEPARMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAM
Accounting Policies: NOTE A-BASIS OF PRESENTATIONThe above schedule of expenditures of federal awards includes the federal awards of Enon-Toland Germantown Development Corporation T/A Enon-Toland Newhall Manor, HUD Project No. 034-EH317, and is presented on the accrual basis of accounting. 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 Audit Requirements of Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the operations of June 30, 2022, it is not intended to and does not represent the financial positions, changes in net assets or cash flows of Enon-Toland Germantown Development Corporation T/A Enon-Toland Newhall Manor.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. Enon-Toland Germantown Development Corporation T/A Enon-Toland Newhall Manor has elected not to use the 10-percent de minims indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Enon-Toland Germantown Development Corporation T/A Enon-Toland Newhall Manor has received a U.S. Department of Housing and Urban Development direct loan under Section 202 of the National Housing Act. The loan balance outstanding at the beginning of the year is included in the federal expenditures presented in the Schedule. Enon-Toland Germantown Development Corporation T/A Enon-Toland Newhall Manor received no additional loans during the year. The balance of the loan outstanding at June 30, 2022 consists of:CFDA Number Program Name Outstanding Balance at June 30, 2022 14.157 Section 202 Direct Loan $894,786