Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Company under programs of the federal government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 the Company, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Company.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Section 223(a)(7) HUD-Insured Mortgage Note has an outstanding balance of $14,312,640 at September 30, 2024.