Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures are recognized following the cost principles contained in the Uniform Guidance, and OMB Circular A122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Independence Village, Inc. has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance. There are no indirect costs allocated.
Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing Projects (14.155) - Balances outstanding at the end of the audit period were $1,958,508.