Notes to SEFA
Title: Loan/ loans guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such
expenditures are recognized following, as applicable, the cost principles contained in the Uniform
Guidance, wherein certain types of expenditures are not allowable or are limited as to
reimbursement. Homes for Laurel II, Inc. has elected not to use the 10 percent de minimis indirect
cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
Supportive Housing for the Elderly (14.157) - balance outstanding at the end of the audit period were $1865100