Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures 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.
De Minimis Rate Used: N
Rate Explanation: The Association has not elected to use the 10 percent de minimis cost rate as allowed under the Uniform Guidance.
COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 2418150. CAPITALIZATION GRANTS FOR DRINKING WATER STATE REVOLVING FUNDS (66.468) - Balances outstanding at the end of the audit period were 434414.