Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards includes grant activity of OteroCounty Housing Authority and is presented on the accrual basis of accounting. The information ispresented 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 FederalAwards. Therefore, some amounts presented in this schedule may differ from amounts presented in,or used in the preparation of the general purpose financial statements
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
VERY LOW TO MODERATE INCOME HOUSING LOANS (10.410) - Balances outstanding at the end of the audit period were 533388.