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 the cost principles in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Section 202 Project Rental AssistanceContract (PRAC) represents the actual amount of tenant rent subsidy received from HUD during the yearended December 31, 2022. The amount reported for the Section 202 Supportive Housing for the Elderlyrepresents the balance recorded as net assets with donor restrictions on December 31, 2021. TheOrganization has elected not to use the 10 percent de minimus indirect cost rate allowed under theUniform 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 1692533.