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 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.
General Chauncey M. Hooper Towers Housing Development Fund Company, Inc. had a U.S.Department of Housing and Urban Development insured mortgage under Section 223(f) of theNational Housing Act. The loan balance outstanding at the beginning of the year is included inthe federal expenditures presented in the Schedule. General Chauncey M. Hooper TowersHousing Development Fund Company, Inc. received no additional loans during the year. Thebalance of the loan outstanding at September 30, 2022 consists of:CFDAnumber Program nameOutstandingbalance at09/30/2214.155Mortgage Insurance for the Purchase or Refinancing of ExistingMultifamily Housing Projects $ 10,592,894