Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grantactivity of the Cooperative under programs of the federal government for the year ended September 30,2022. 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 AuditRequirements for Federal Awards (the Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of the Cooperative, it is not intended to and does not present the financialposition, results of operations, or cash flows of the Cooperative.
De Minimis Rate Used: N
Rate Explanation: The Cooperatives federal award is not based on eligible costs incurred. Accordingly, the Cooperativehas not made an election related to use of the 10% de minimis indirect cost rate described in theUniform Guidance.
Federal expenditures for the mortgage insurance program represent the principal balance of the insured loan as of September 30, 2021. The loan is outstanding from a previous period. The federal government imposes continuing compliance requirements on this loan. The loan balance at September 30, 2022 was $15,403,898.