Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The schedule of expenditures of federal awards is prepared on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected to not use the 10% de minimis cost rate.
MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFMAILY HOUSING PROJECTS - BALANCE OF MORTGAGE NOTE PAYABLE AS OF JULY 1, 2023, UNDER SECTION 207 PURSUANT TO 223(F) OF THE NATIONAL HOUSING ACT (14.155) - Balances outstanding at the end of the audit period were $1,232,523