Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in OMB Circular A-122, Cost Principles for Non-profitOrganizations. Assistance Listing numbers (AL No.) are provided when available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
RURAL RENTAL HOUSING LOANS (10.415) - Balances outstanding at the end of the audit period were 2146069.