Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: BASIS OF PRESENTATION - The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Columbia Cascade Housing Corporation (the Organization) under programs of federal government for the year ended June 30, 2022. The information in this Schedule is presented 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). Because the Schedule presents only a selected portion of the operation of the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the OMB Circular A-122 and Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Organization did not elect to use the 10 percent de minims indirect cost rate as allowed under the Uniform Guidance.
At June 30, 2022, Organization had the following loan balances outstanding. The loan balances are also included in the federal expenditures. Program or Cluster Title : RURAL RENTAL HOUSING LOANS; Federal Assistance Listing Number : 10.415; Balances outstanding at the end of the audit period : $4,873,924.