Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Basis of Presentation Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Administrative Requirements (CFR) Part 200 and Cost Principles for Non-Profit Organizations, and the New Jersey OMB Circular 15-08, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through Entities Pass-through entity identifying numbers are presented where available. Federal and State Loans Federal and State loan balances reflected in the schedule include the beginning balance and current year expenditures. 10% De Minimis Indirect Cost Rate. The Organization has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
EMERGENCY SOLUTIONS GRANT PROGRAM (14.231) - Balances outstanding at the end of the audit period were 733793. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 700000.