Notes to SEFA
Title: Outstanding Loan Balance
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, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Martinsburg Community Housing Corporation has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance
The outstanding balance of loan and loan guarantee programs at September 30, 2022 with continuing compliance requirements which are reported as federal expenditures on the accompanying schedule of expenditures of Federal Awards was $848,237.