Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Low Income Housing Institute and Affiliates and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: Low Income Housing Institute has elected to not use the 10% de minimis cost rate.
At December 31, 2023, the balance of the capital advance notes included in "Supportive Housing for the Elderly" was $12,773,000. At December 31, 2023, the balance of the notes included in "Community Development Block Grants" was $1,099,821. At December 31, 2023, the balance of the notes included in "Home Investments Partnerships Program" was $22,029,339. At December 31, 2023, the balance of the note included in "Rural Rental Housing Loans" was $290,059. At December 31, 2023, the balance of the note included in "Coronavirus State and Local Fiscal Recovery Funds" was $15,327,970.