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: N
Rate Explanation: The Organization has elected not 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: 14.155, Program Name: Mortgage Insurance - for the Purchase or Refinancing of Existing Multifamily Housing Projects (Section 223 (f)/207, Loan Outstanding June 30, 2022: $6,089,536, Loan Awarded for the Year Ended June 30, 2023, $0, Loan Principal Repaid for the Year End June 30,2023, $118,022, Loan Outstanding June 30,2023, $5,971,514.