Notes to SEFA
Title: Note 3
Accounting Policies: The schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10% de minimis cost rate.
The balance of the HUD Capital Advance at June 30, 2023 is $6,585,200.
Title: Note 4
Accounting Policies: The schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10% de minimis cost rate.
The balance of the HOME Investment Partnerships Program at June 30, 2023 is $144,250.