Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Basis of Presentation: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awardactivity of Find-A-Way II Community Urban Redevelopment Corporation (the Corporation) under programs ofthe federal government for the year ended September 30, 2022.The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and AuditRequirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selectedportion of the operations of the Corporation, it is not intended to and does not present the Corporation'sfinancial position, changes in net assets, or cash flows of the Corporation. Schedule of Significant Accounting Policies: (a) Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Find-A-Way II Community Urban Redevelopment Corporation has elected not to use the 10 percent deminimis indirect cost rate as allowed under the Uniform Guidance.
MORTGAGE INSURANCE FOR THE PURCHASE OR REFINANCING OF EXISTING MULTIFAMILY HOUSING PROJECTS (14.155) - The outstanding balance of loan and loan guarantee programs at September 30, 2022 with continuingcompliance requirements which are reported as federal expenditures on the accompanying Schedule ofExpenditures of Federal Awards was $1,430,411.