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 Manville Hill Housing Corporation and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations(CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit requirements for federal awards. Therefore, some amounts presented in this schedule may differ from amount presented in, or used in the preparation of the basis of the financial statements. The section 202 program amount is reported as a capital advance during the entire compliance period.
De Minimis Rate Used: Y
Rate Explanation: The Auditee used the de minimis cost rate.
Supportive Housing for the Elderly(14.157)- Balances outatanding at the end of the audit period were $5,976,700