Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 1. GENERAL The accompanying schedule of expenditures of federal awards includes the federal award activity of the Corporation under programs of the federal government for the year ended June 30,2022. The information in this schedule is presented in accordance with the requirements of Title2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.2. BASIS OF ACCOUNTING Expenditures reported on the schedule of expenditures of federal awards 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
SECTION 8 HOUSING ASSISTANCE PAYMENTS PROGRAM (14.195) - Balances outstanding at the end of the audit period were 2540639.
Title: Sub-Receipients
Accounting Policies: 1. GENERAL The accompanying schedule of expenditures of federal awards includes the federal award activity of the Corporation under programs of the federal government for the year ended June 30,2022. The information in this schedule is presented in accordance with the requirements of Title2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.2. BASIS OF ACCOUNTING Expenditures reported on the schedule of expenditures of federal awards 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.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Of the federal expenditures presented in the schedule of federal awards, the Corporation provided no federal awards to sub-recipients.