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 REACH for Housing Inc. for Mendenhall Woods - HUD Project No. 176-HD029 and is presented in accordance with generally accepted accounting principles. 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.REACH for Housing Inc. has elected not to use the 10% de minimis indirect cost rate.REACH for Housing, Inc. has a capital advance included on the schedule of expenditures of federal awards representing a loan balance of $906,368 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 906368.