Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Expenditures reported inthe Schedule are recognized following the cost principles contained in Uniform Administrative Requirements,Cost Principles and Audit Requirements for Federal Awards, wherein certain types of expenditures are notallowed. Assistance Listing numbers (AL No.) are provided when available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
MORTGAGE INSURANCE_RENTAL HOUSING (14.134) - Balances outstanding at the end of the audit period were 2697541.