Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-122, Cost Principles for Non-profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Interfaith Homes of Longmeadow, Inc. - Emerson Manor did not elect to use the de minimis cost rate.
SECTION 221(D)(4) MORTGAGE INSURANCE FOR RENTAL AND COOPERATIVE HOUSING (14.135) - Balances outstanding at the end of the audit period were 4942695.