Notes to SEFA
Title: Loan outstanding
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 Uniform Guidance,
wherein certain types of expenditures are not allowable or are limited as to reimbursement. No
federal expenditures presented in this Schedule were provided to subrecipients
De Minimis Rate Used: N
Rate Explanation: Northeastern Conference House Housing Development Fund Company, Inc. has elected not to
use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance
Northeastern Conference House Housing Development Fund Company, Inc. obtained a U.S.
Department of Housing and Urban Development insured mortgage under Section 207/223(f)
of the National Housing Act on August 20, 2014. The loan balance outstanding at the
beginning of the year is included in the federal expenditures presented in the Schedule.
Northeastern Conference House Housing Development Fund Company, Inc. received no
additional loans during the year. The balance of the loan outstanding at September 30, 2023
consists of:
CFDA number Program name
Outstanding
balance at
09/30/23
14.155
Mortgage Insurance for the Purchase or Refinancing of
Existing Multifamily Housing Projects $ 8,929,961