Notes to SEFA
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.
The Organization is the recipient of a federal award program that does not result in cash receipts or disbursements. The Organization was granted $315,200 of interest subsidies and rental assistance under the Rural Rental Housing program.
As of December 31, 2024, the outstanding balance for the Rural Development Mortgage Payable was $2,327,600.
As of December 31, 2024, the outstanding balance for the Federal HOME Investment Partnership Loan was $46,800.