Title: SUBRECIPIENTS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Louisiana Housing Association, Inc., and is presented in accordance with accounting principles generally accepted in the United States of America. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: For the year ended December 31, 2022, Louisiana Housing Association, Inc., did not elect to use the 10% de minimis indirect cost rate.
Federal funds are not passed through to any subrecipients.
Title: NONCASH ASSISTANCE AND FEDERAL INSURANCE
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Louisiana Housing Association, Inc., and is presented in accordance with accounting principles generally accepted in the United States of America. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: For the year ended December 31, 2022, Louisiana Housing Association, Inc., did not elect to use the 10% de minimis indirect cost rate.
Louisiana Housing Association, Inc., did not receive any federal noncash assistance, and had no federal insurance in effect during the year ended December 31, 2022.
Title: LOANS AND LOAN GUARANTEES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Louisiana Housing Association, Inc., and is presented in accordance with accounting principles generally accepted in the United States of America. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
De Minimis Rate Used: N
Rate Explanation: For the year ended December 31, 2022, Louisiana Housing Association, Inc., did not elect to use the 10% de minimis indirect cost rate.
Louisiana Housing Association, Inc., had federal loans or federal loan agreements with a balance totaling $602,253 at December 31, 2022. The Uniform Guidance requires reporting by non-Federal entities with loan balances in excess of $750,000 where the Federal Government imposes continuing compliance requirements (2 CRF 200.502(b)(2)). Rural Rental Housing loan programs have continuing compliance requirements. The expenditures represent the total loan balances outstanding at January 1, 2022, which have continuing
compliance requirements, and interest subsidy and rural rental assistance payments received by the Organization during the year ended December 31, 2022.