Notes to SEFA
Title: Loan Program
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. Pass through entity identifying numbers are presented where
available.
De Minimis Rate Used: Y
Rate Explanation: Lions Community Manor, a component unit of Lions Community Services Corporation has elected to use the
10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
The following is the activity of the loan payable for the year ended June 30, 2023: Assistance Listing Number: 14.134, Program Name: Mortgage Insurance - Rental Housing (Section 223 (f)), Loan Outstanding June 30, 2022: $3,087,965, Loan Awared for the Year Ended June 30, 2023, $34,132,700, Loan Principal Repaid for the Year End June 30,2023, $3,182,970, Loan Outstranding June 30,2023, $34,037,695.