Notes to SEFA
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The balance of the Rural Rental Housing federal loans outstanding as of September 30, 2025, amount to $4,954,677. The amount presented on the schedule for MPR loan funds represents loan proceeds received as of September 30, 2025. The MPR loans were scheduled to begin repayment during 2023. The balance of the MPR federal loans outstanding as of September 30, 2025, amount to $11,628,709.