Notes to SEFA
Title: Note 3: Loans Outstanding
Accounting Policies: Note 1: Basis of Presentation:
This schedule of expenditures of federal awards (Schedule) includes the federal award activity of Willow
Village Housing Corporation under programs of the federal government for the year ended June 30, 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 Audits for
Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the
operations of Willow Village Housing Corporation, it is not intended to and does not present the financial
position, changes in net assets, or cash flows of Willow Village Housing Corporation. Note 2: Summary of Significant Accounting Policies:
Expenditures 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. Willow Village Housing Corporation
has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Willow Village Housing Corporation
has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
CDFA Number 14.135; Program Title of HUD HUD Guaranteed Mortgage –Section 515(a); Outstanding Balance at June 30, 2023 of $435,092. CDFA Number 14.164; Program Title of HUD Operating Assistance for Troubled Multifamily Housing Projects; Outstanding Balance at June 30, 2023 of $1,629,092.
CDFA Number 14.239; Program Title of HUD Home Investment Partnership Program - HOME Programs; Outstanding Balance at June 30, 2023 of $269,000