Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The schedule of expenditures of federal awards includes the federal grant activity of the Bank of NorthDakota and is presented on the accrual basis of accounting. The information in this schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, someamounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basicfinancial statements. No federal financial assistance has been provided to a subrecipient.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
MORTGAGE INSURANCE_HOMES (14.117) - Balances outstanding at the end of the audit period were 174651126. VETERANS HOUSING_GUARANTEED AND INSURED LOANS (64.114) - Balances outstanding at the end of the audit period were 101038901.