Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: 1. The accompanying schedule of expenditures of federal awards (the Schedule) includes thefederal award activity of INRC Services under programs of the federal government for the yearended December 31, 2022. The information in this schedule is presented in accordance withthe requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Costs Principles, and Audit Requirements of Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion of the operations of INRCServices, it is not intended to and does not present the financial position, changes in net assetsor cash flows of INRC Services.2. 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.Negative amounts shown on the Schedule represent adjustments or credits made in the normalcourse of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
MORTGAGE INSURANCE_NURSING HOMES, INTERMEDIATE CARE FACILITIES, BOARD AND CARE HOMES AND ASSISTED LIVING FACILITIES (14.129) - Balances outstanding at the end of the audit period were 8884083.