Notes to SEFA
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Rural rental housing loans were distributed to the Southern Iowa Regional Housing Authority. These funds were used to construct the rental units. The funds advanced are repayable to the U.S. Department of Agriculture – Rural Development. The balance of the loans at December 31, 2025, was $1,488,955.