Notes to SEFA
Title: FEDERAL PERMANENT FINANCING
Accounting Policies: The information is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Corporation does not use the 10% de minimis rule.
The amount reported for Assistance Listing Number 14.246 in expenditures related to Federal loan financing. The ending balance for Assistance Listing Number 14.246 was $878,750 at August 31, 2024.
Title: CAPITAL ADVANCE
Accounting Policies: The information is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
De Minimis Rate Used: N
Rate Explanation: The Corporation does not use the 10% de minimis rule.
The amount reported for Assistance Listing Number 14.239 in expenditures related to a capital advance. The ending balance for Assistance Listing Number 14.239 was $971,438 at August 31, 2024.