Notes to SEFA
Title: Federal Loans
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activity of
the Authority under programs of the federal government for the year ended December 31, 2023. The information
in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part
200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Because the Schedule presents only a selected portion of our operations, it is not intended to and does
not present our financial position, changes in net positions, or cash flows.
De Minimis Rate Used: N
Rate Explanation: We have elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The Authority participates in housing programs where funds have been provided by Federal agencies as loans.
Outstanding balances for these loans were as follows:
Federal Program Loans ALN No.
Beginning
Balance Additions
Amount
Included in
Expenditures
Ending
Balance
Rural Rental Housing Loans 10.415 $ 673,958 $ - $ 673,958 $ 627,817
$ 673,958 $ - $ 673,958 $ 627,817