Notes to SEFA
Title: Subrecipients
Accounting Policies: This schedule of expenditures of federal awards includes the federal award activity of Ponderosa Apartments, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards . Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
There were no awards passed through to subrecipients.
Title: Loan/loan guarantee outstanding balances
Accounting Policies: This schedule of expenditures of federal awards includes the federal award activity of Ponderosa Apartments, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards . Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
RURAL RENTAL HOUSING LOANS (10.415) - Balances outstanding at the end of the audit period were 5398868. THE RURAL DEVELOPMENT (RD) MULTI-FAMILY HOUSING REVITALIZATION DEMONSTRATION PROGRAM (MPR) (10.447) - Balances outstanding at the end of the audit period were 10852445. The MPR loans are not yet in repayment.