Notes to SEFA
Title: LOAN PROGRAM
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certain types of expendituresare not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
THE FOLLOWING IS THE ACTIVITY OF THE LOAN PAYABLE FOR THE YEAR ENDED JUNE 30, 2022: ASSISTANCE LISTING NUMBER 14.218, PROGRAM NAME: COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS, LOANS OUTSTANDING AT JUNE 30, 2021: $5,490,305, LOANS AWARDED FOR THE YEAR ENDED JUNE 30, 2022: $0, LOAN PRINCIPAL REPAID FOR THE YEAR ENDED JUNE 30, 2022: $0, LOANS OUTSTANDING JUNE 30, 2022: $5,490,305.