Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10% de minimis cost rate.
Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects (Assistance Listing No. 14.155) The balance of the mortgage note payable as of December 31, 2023 is $0.
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10% de minimis cost rate.
Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects (Assistance Listing No. 14.155) The balance of the mortgage note payable as of December 31, 2023 is $7,397,893.