Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE A BASIS OF PRESENTATION:The accompanying schedule of expenditures of federal awards (the Schedule) includesthe federal grant activity of the organization under programs of the federal government asof and for the year ended June 30, 2022. The information in this Schedule is presentedin accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements forFederal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of the organization, it is not intended to and does not present thefinancial position, changes in net assets or cash flows of the organization.
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 3009581.