Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of ParkviewHousing Corporation and is presented on the accrual basis of accounting. The information in this schedule ispresented in accordance with the requirements of the Uniform Guidance. Therefore, some amountspresented in this schedule may differ from amounts presented in, or used in the preparation of, the basicfinancial statements.
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 1550100.
Title: Non-Cash Assistance, Federal Insurance and Loans
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of ParkviewHousing Corporation and is presented on the accrual basis of accounting. The information in this schedule ispresented in accordance with the requirements of the Uniform Guidance. Therefore, some amountspresented in this schedule may differ from amounts presented in, or used in the preparation of, the basicfinancial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There was no non-cash assistance received and there was no federal insurance in effect during year endedJune 30, 2022. As of the year ended June 30, 2022, Parkview Housing Corporation had received capitaladvances totaling $1,550,100 from the Department of Housing and Urban Development (section 811) toconstruct its facility. The capital advance bears no interest and repayment is not required as long as thehousing remains available for low-income persons with disabilities for not less than 40 years. The balance atJune 30, 2022 is reflected in the schedule of expenditures of federal awards.
Title: Subrecipients
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of ParkviewHousing Corporation and is presented on the accrual basis of accounting. The information in this schedule ispresented in accordance with the requirements of the Uniform Guidance. Therefore, some amountspresented in this schedule may differ from amounts presented in, or used in the preparation of, the basicfinancial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no amounts passed through to subrecipients during the period ended June 30, 2022.