Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal awards activityof the Authority and is presented in accordance with accounting principles generally accepted in the United Statesof America, which is the same basis of accounting as the basic financial statements. The information in thisSchedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of our operations, it is not intended to and doesnot present our financial position, changes in net positions, or cash flows.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
FARM LABOR HOUSING LOANS AND GRANTS (10.405) - Balances outstanding at the end of the audit period were 425845.