Notes to SEFA
Title: LOAN PROGRAM
Accounting Policies: Expenditure reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. The District has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Loans outstanding at the beginning of the year plus the new value of new loans received during the year are included in the federal expenditures presented in the schedule of federal awards. The balance of the loans outstanding as of June 30, 2022, consists of: MORTGAGE INSURANCE_HOSPITALS (14.128) - Balances outstanding at the end of the audit period were 16410016.