Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 2. Schedule of Significant Accounting Policiesa) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance,wherein certain types of expenditures are not allowable or are limited as to reimbursement.b) Rural Communities Housing Development Corporation and Affiliates has elected not to use the10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.c) The outstanding balance of loan and loan guarantee programs at October 31, 2022 withcontinuing compliance requirements which are reported as federal expenditures on theaccompanying Schedule of Expenditures of Federal Awards was $25,150,668.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
FARM LABOR HOUSING LOANS AND GRANTS (10.405) - Balances outstanding at the end of the audit period were 2344890. RURAL RENTAL HOUSING LOANS (10.415) - Balances outstanding at the end of the audit period were 652619. SECTION 538 RURAL RENTAL HOUSING GUARANTEED LOANS (10.438) - Balances outstanding at the end of the audit period were 674699. COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 583065. MORTGAGE INSURANCE_RENTAL HOUSING (14.134) - Balances outstanding at the end of the audit period were 7580146. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 4199100. SUPPORTIVE HOUSING FOR PERSONS WITH DISABILITIES (14.181) - Balances outstanding at the end of the audit period were 1856500. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 7259649.
Title: Basis of presentation
Accounting Policies: 2. Schedule of Significant Accounting Policiesa) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance,wherein certain types of expenditures are not allowable or are limited as to reimbursement.b) Rural Communities Housing Development Corporation and Affiliates has elected not to use the10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.c) The outstanding balance of loan and loan guarantee programs at October 31, 2022 withcontinuing compliance requirements which are reported as federal expenditures on theaccompanying Schedule of Expenditures of Federal Awards was $25,150,668.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
1. Basis of PresentationThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federalaward activity of Rural Communities Housing Development Corporation and Affiliates underprograms of the federal government for the year ended October 31, 2022.The information in this Schedule is presented in accordance with the requirements of Title 2 U.S.Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, CostPrinciples, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedulepresents only a selected portion of the operations of Rural Communities Housing DevelopmentCorporation and Affiliates, it is not intended to and does not present Rural Communities HousingDevelopment Corporation and Affiliates' financial position, changes in net assets, or cash flows.