Notes to SEFA
The above Schedule of Expenditures of Federal Awards includes the Federal assistance activity of GMPD 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
The Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects listed above represents the outstanding loan balance at June 30, 2024. The outstanding balance of this loan at June 30, 2025, is $1,039,673.
GMPD has elected not to use the 10% de minimis cost rate for its Federal programs.