Audit 37245

Title: Loan/loan guarantee outstanding balances Accounting Policies: NOTE A BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes the federal grant activity of Orangeburg County Disabilities and Special Needs Board 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).NOTE B SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards or OMB Circular A-87 Cost Principles for State, Local and Indian Tribe Governments, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.NOTE C DE MINIMUS INDIRECT COST RATEOCDSNB has not elected to use the 10 percent de minimus direct cost rate allowed under Uniform Guidance.NOTE D NONCASH ASSISTANCE AND LOANSThere were no federal awards expended in the form of noncash assistance during the fiscal year. 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 1402137.