Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained in Uniform Guidance,wherein certain types of expenditures are not allowable or are limited as to reimbursement.Negative amounts shown on the Schedule represent adjustments or credits made in the normalcourse of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
East Harlem Pilot Block Housing Development Fund Company, Inc. has a Department ofHousing and Urban Development direct loan under Section 236 of the National Housing Act.The loan balance outstanding at the beginning of the year is included in the federalexpenditures presented in the Schedule. East Harlem Pilot Block Housing Development FundCompany, Inc. received no additional loans during the year. The balance of the loanoutstanding at February 28, 2022 consists of:CFDA number Program name Outstanding balance at 02/28/2214.103 Interest reduction payments rental and cooperative housing for lower income families $ 43,297,149