Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs of Canandaigua Housing Development Fund Company, Inc., Mortgagor (Eighty Parrish Street Apartments), Project No. 014-11151. The schedule includes expenditures of federal programs received directly from federal agencies.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS - 14.155 -Balances outstanding at the end of the audit period were 4565071.
Title: General
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs of Canandaigua Housing Development Fund Company, Inc., Mortgagor (Eighty Parrish Street Apartments), Project No. 014-11151. The schedule includes expenditures of federal programs received directly from federal agencies.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards presents the activity of federal award programs of Canandaigua Housing Development Fund Company, Inc., Mortgagor (Eighty Parrish Street Apartments), Project No. 014-11151. The schedule includes expenditures of federal programs received directly from federal agencies.
Title: Basis of Accounting
Accounting Policies: The accompanying schedule of expenditures of federal awards presents the activity of federal award programs of Canandaigua Housing Development Fund Company, Inc., Mortgagor (Eighty Parrish Street Apartments), Project No. 014-11151. The schedule includes expenditures of federal programs received directly from federal agencies.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal awards is presented on the accrual basis of accounting and 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).