Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: This schedule of expenditures of federal awards includes the federal grant activity of Redfield South Housing Development Fund Company, Inc. (Redfield Village Apartments), HUD Project No. 014-11186, and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS (14.155) - Balances outstanding at the end of the audit period were 1547617.