Notes to SEFA
Title: Note 3:
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 elected not to use the 10% de minimis cost rate.
The balance of the HOME Investment Partnerships Program loans at December 31, 2023 is $2,488,526.
Title: Note 4:
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 elected not to use the 10% de minimis cost rate.
The balance of the Community Development Block Grants/Entitlement Grants loans at December 31, 2023 is $651,839.