Notes to SEFA
Title: DISCLOSURE OF OTHER FORMS OF ASSISTANCE
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 2 CFR PART 200 SUBPART E - (COST PRINCIPLES), WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE DENMARK NON-PROFIT HOUSING CORPORATION HAS ELECTED NOT TO USE THE 10-PERCENT DE MINIMIS INDIRECT COST RATE ALLOWED UNDER THE UNIFORM GUIDANCE.
THE DENMARK NON-PROFIT HOUSING CORPORATION HAS GUARANTEED DEBT IN THE RURAL RENTAL HOUSING LOANS IN THE AMOUNT OF $1,859,224 AS OF DECEMBER 31, 2022. THE DENMARK NON-PROFIT HOUSING CORPORATION HAD NON-CASH ASSISTANCE IN THE FORM OF INTEREST SUBSIDY IN THE AMOUNT OF $26,597 FROM RURAL RENTAL HOUSING LOANS DURING FISCAL YEAR ENDING DECEMBER 31, 2022.