Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Basis of presentation: The accompanying schedule of federal awards ("schedule") includes the federalaward and loan activity of the Organization under programs of the federal government for the year endedJuly 31, 2022. The information in this schedule is presented in accordance with the requirements of Title 2U.S. code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards ("Uniform Guidance"). Therefore, some amounts presented in thisschedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.Summary of significant accounting policies: Expenditures reported on the schedule are reported on theaccrual basis of accounting. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. The Organization has elected to not use the 10% de minimums indirect cost rate allowedunder the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
MORTGAGE INSURANCE_RENTAL AND COOPERATIVE HOUSING FOR MODERATE INCOME FAMILIES AND ELDERLY, MARKET INTEREST RATE (14.135) - Balances outstanding at the end of the audit period were 5622716. FLEXIBLE SUBSIDY LOAN (14.164) - Balances outstanding at the end of the audit period were 367396.
Title: Subrecipients
Accounting Policies: Basis of presentation: The accompanying schedule of federal awards ("schedule") includes the federalaward and loan activity of the Organization under programs of the federal government for the year endedJuly 31, 2022. The information in this schedule is presented in accordance with the requirements of Title 2U.S. code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, andAudit Requirements for Federal Awards ("Uniform Guidance"). Therefore, some amounts presented in thisschedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.Summary of significant accounting policies: Expenditures reported on the schedule are reported on theaccrual basis of accounting. Such expenditures are recognized following the cost principles contained in theUniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. The Organization has elected to not use the 10% de minimums indirect cost rate allowedunder the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
For the year ended July 31, 2022, the Organization provided no funds to subrecipients.