Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal award activity of HarfordSenior Housing, Inc. under programs of the federal government for the year ended September 30, 2022. Theinformation in this schedule is presented in accordance with the requirements of the Uniform Guidance. Becausethe Schedule presents only a selected portion of the operations of Harford Senior Housing, Inc., it is not intendedto and does not present the financial position, changes in net deficit, or cash flows of Harford Senior Housing, Inc.Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Negative amounts shown on the schedulerepresent adjustments or credits made in the normal course of business to amounts reported as expenditures inprior years. Passthrough entity identifying numbers are presented where applicable. The Corporation has electednot to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.The Section 202 loan balance outstanding at the beginning of the year is included in the federal expenditurespresented above. The Project received no additional loans during the year.
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 299657.