Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. CFR Part 200, 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.
TITLE VI FEDERAL GUARANTEES FOR FINANCING TRIBAL HOUSING ACTIVITIES (14.869) - Balances outstanding at the end of the audit period were 644031. TITLE VI FEDERAL GUARANTEES FOR FINANCING TRIBAL HOUSING ACTIVITIES (14.869) - Balances outstanding at the end of the audit period were 951956. TITLE VI FEDERAL GUARANTEES FOR FINANCING TRIBAL HOUSING ACTIVITIES (14.869) - Balances outstanding at the end of the audit period were 1157066.
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. CFR Part 200, 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.
The HUD Title VI Loan balances are secured by federal guarantees. The balances outstanding at December 31,2022 for the three loans were $644,031, $951,956, and $1,157,066.