Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE 1 BASIS OF PRESENTATION - The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of Merced Housing Texas (Merced) under programs of the federal government for the year ended June30, 2022. 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 the operations of Merced, it is not intended, and does not, present the financial position, changes in net assets or cash flows of Merced. Therefore, some amounts presented in the Schedule may differ from amounts presented in the consolidated financial statements. NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING PRINCIPLES Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in 2 CFR Part 230, Costs Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) Kings Court - Balances outstanding at the end of the audit period were $32,345. HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) Kings Court - Balances outstanding at the end of the audit period were $151,000. MORTGAGE INSURANCE_RENTAL AND COOPERATIVE HOUSING FOR MODERATE INCOME FAMILIES AND ELDERLY, MARKET INTEREST RATE (14.135) Stablewood - Balances outstanding at the end of the audit period were $22,666,264. MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS (14.155) Elmhurst - Balances outstanding at the end of the audit period were $354,242. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) Eleanor - Balances outstanding at the end of the audit period were $48,155. COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS (14.218) Bellshire - Balances outstanding at the end of the audit period were $11,698,940.