Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The Schedule of Expenditures of Federal and State Awards (the Schedule) is prepared on the accrual basisof accounting. The information in the Schedule is presented in accordance with the requirements of Title 2U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards (Uniform Guidance). Some amounts presented in the Schedule maydiffer from amounts presented in, or used in the preparation of, the general purpose financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
HOUSING OPPORTUNITIES FOR PERSONS WITH AIDS (14.241) - Balances outstanding at the end of the audit period was $1,700,431.