Notes to SEFA
Title: Loan Program
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers arepresented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The following is the activity of the loan payable for the year ended December 31, 2022: Assistance Listing Number: 14.134, Program Name: Mortgage Insurance - Rental Housing (Section 223(f)), Loans Outstanding December 31, 2021: $4,642,392, Loans Awarded for the Year Ended December 31, 2022: $0, Loan Principal Repaid for the Year Ended December 31, 2022: $102,189, Loans Outstanding December 31, 2022: $4,540,203.