Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, the cost principals contained in OMB Circular A-122, “Cost Principals for Non-Profit Organizations” and the cost principals contained in the Uniform Guidance.
De Minimis Rate Used: Y
Rate Explanation: The auditee used the de minimis cost rate.
FARM LABOR HOUSING LOANS AND GRANTS (10.405) - Balances outstanding at the end of the audit period were 12,727,269. SUPPORTIVE HOUSING FOR THE ELDERLY (14.157) - Balances outstanding at the end of the audit period were 3,387,200