Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SECTION 8 NEW CONSTRUCTION AND SUBSTANTIAL REHABILITATION (14.182) - Balances outstanding at the end of the audit period were 348518. RURAL RENTAL HOUSING LOANS (10.415) - Balances outstanding at the end of the audit period were 638838.