Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Schedule of Federal Awards includes the Federal grant activity of Willow Brook Cooperative ofWinona and is presented on the accrual basis of accounting. Willow Brook Cooperative of Winona has notcharged indirect costs to any of the federal programs. Therefore, the election on the 10 percent de minimisindirect cost rate is not applicable as allowed under Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
MORTGAGE INSURANCE_COOPERATIVE PROJECTS (14.126) - Balances outstanding at the end of the audit period were 3917825.