Audit 53339

Title: Loan/loan guarantee outstanding balances Accounting Policies: NOTE A - BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal award activity of NYSDHousing Development Fund, Inc. and is presented on the accrual basis of accounting. The information inthis schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal RegulationsPart 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for FederalAwards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations ofNYSD Housing Development Fund, Inc., it is not intended to and does not present the financial position,changes in net assets, or cash flows of NYSD Housing Development Fund, Inc.NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported on the Schedule are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. NYSD Housing Development Fund, Inc.has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.NOTE C U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT LOAN PROGRAMNYSD Housing Development Fund, Inc. has received a U.S. Department of Housing and UrbanDevelopment Capital Advance under Section 811. The Capital Advance balance outstanding at thebeginning of the year is included in the federal expenditures presented in the Schedule. NYSD HousingDevelopment Fund, Inc. received no additional Capital Advances during the year. The balance of theCapital Advance outstanding at June 30, 2022 consists of:Outstanding BalanceCFDA Number Program Name at June 30, 202214.181 Section 811 Capital Advance Supportive Housingfor Persons with Disabilities $ 3,894,349 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 3894349.