Notes to SEFA
Title: Federally Funded and Insured Mortgages
Accounting Policies: Note B - Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Project's summary of significant accounting policies is presented in Note A in the Project's basis financial statements. The Project has not elected to use the 10% de minimis cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Not Applicable
The mortgage balance at the beginning of the year and loans made
Title: Federally Funded and Insured Mortgages
Accounting Policies: Note B - Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Project's summary of significant accounting policies is presented in Note A in the Project's basis financial statements. The Project has not elected to use the 10% de minimis cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Not Applicable
during the year, if any, are included in the federal expenditures
Title: federally Funded and Insured Mortgages
Accounting Policies: Note B - Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Project's summary of significant accounting policies is presented in Note A in the Project's basis financial statements. The Project has not elected to use the 10% de minimis cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Not Applicable
presented in the Schedule. The balance of the outstanding
Title: Federally Funded and Insured Mortgages
Accounting Policies: Note B - Significant Accounting Policies Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The Project's summary of significant accounting policies is presented in Note A in the Project's basis financial statements. The Project has not elected to use the 10% de minimis cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Not Applicable
federally insured mortgage at December 31, 2022 was $4,439,081.