Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Maple Lake Housing Development Corporation under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Maple Lake Housing Development Corporation, it is not intended to and does not present the financial position or changes in net assets of Maple Lake Housing Development Corporation.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 579604. RURAL RENTAL HOUSING LOANS (10.415) - Balances outstanding at the end of the audit period were 194382.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Maple Lake Housing Development Corporation under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Maple Lake Housing Development Corporation, it is not intended to and does not present the financial position or changes in net assets of Maple Lake Housing Development Corporation.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are reported on the modified-cash 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.
Title: Subrecipients
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Maple Lake Housing Development Corporation under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Maple Lake Housing Development Corporation, it is not intended to and does not present the financial position or changes in net assets of Maple Lake Housing Development Corporation.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization did not pass through any federal funds to subrecipients during the year ended December 31, 2022.
Title: Pass-Through Identifier
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Maple Lake Housing Development Corporation under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the requirements of 2 CFR Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Maple Lake Housing Development Corporation, it is not intended to and does not present the financial position or changes in net assets of Maple Lake Housing Development Corporation.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Organization's pass-through identifier is unknown.