Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: SUMMARY OF SIGNIFICANT 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. Hillsdale Senior Housing Corp. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Hillsdale Senior Housin Corp. has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidence.
MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS (14.155) - Balances outstanding at the end of the audit period were 4636423.