Notes to SEFA
Title: Basis for Presentation
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for the loanbalances as discussed below. Such expenditures are recognized following the cost principles contained inthe Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. (2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10-percent de minimis indirect costrate allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule)includes the federal grant activity of Trellis Co. and affiliates (the Corporation) under programs of the federal government for the year ended December 31, 2022. The information in this Schedule 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 (the Uniform Guidance). Becausethe Schedule presents only a selected portion of the operations of the Corporation, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Corporation.
Title: Loans
Accounting Policies: (1) Expenditures reported on the Schedule are reported on the accrual basis of accounting, except for the loanbalances as discussed below. Such expenditures are recognized following the cost principles contained inthe Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement. (2) Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Corporation has elected not to use the 10-percent de minimis indirect costrate allowed under the Uniform Guidance.
Federal expenditures for the Mortgage Insurance - Rental and Cooperative Housing forModerate Income Families and Elderly, Market Interest Rate; Operating Assistance for Troubled Multifamily Housing Projects; and Rural Rental Housing Loan programs consist of the balance at the beginning of the year of loans outstanding from previous years for which the grantor imposes continuing compliance requirements. The December 31, 2022 balances of the loans outstanding follow: Mortgage Insurance Rental and Cooperative Housing for Moderate Income Families and Elderly, Market Interest RateCFDA NUMBER: 14.135 AMOUNT OUTSTANDING: $3,664,846 Operating Assistance for Troubled Multifamily Housing Projects CFDA NUMBER: 14.164 AMOUNT OUTSTANDING: $2,290,452Rural Rental Housing Loans CFDA NUMBER: 10.415 AMOUNT OUTSTANDING $576,502.