Notes to SEFA
Title: Loans
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Wisconsin Housing Preservation Corp. & Subsidiaries under programs of the federal government for the year ended December 31, 2024 and 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). Because the Schedule presents only a selected portion of the operations of Wisconsin Housing Preservation Corp. & Subsidiaries, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Wisconsin Housing Preservation Corp. & Subsidiaries. Expenditures reported on the Schedule 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.
De Minimis Rate Used: N
Rate Explanation: The organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance as it does not claim reimbursement for any indirect costs for current federal funding received.
Loans outstanding at the beginning of the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at December 31, 2024 consists of: Outstanding balance at
CFDA number Program name December 31, 2024
10.415 Rural Rental Housing Loans $9,218,244
10.415 Section 515 Multi-Family Housing Preservation
Revolving Loan Fund Demonstration Program $1,532,656
10.447 The Rural Development (RD) Multi-Family Housing
Revitalization Demonstration Program (MPR) $854,439
14.155 Mortgage Insurance for the Purchase or Refinancing of
Existing Multifamily Housing Projects $19,724,085
14.157 Supportive Housing for the Elderly $672,733
14.239 HOME Investment Partnerships Program $2,948,996
14.318 ARRA - Assisted Housing Stability and Energy and
Green Retrofit Investments Program $691,064
Title: Capital Magnet Fund
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Wisconsin Housing Preservation Corp. & Subsidiaries under programs of the federal government for the year ended December 31, 2024 and 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). Because the Schedule presents only a selected portion of the operations of Wisconsin Housing Preservation Corp. & Subsidiaries, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Wisconsin Housing Preservation Corp. & Subsidiaries. Expenditures reported on the Schedule 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.
De Minimis Rate Used: N
Rate Explanation: The organization has elected not to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance as it does not claim reimbursement for any indirect costs for current federal funding received.
Expenditures reported on the Schedule for the Capital Magnet Fund represent amounts actually spent for qualified items plus amounts committed for future projects.