Notes to SEFA
Title: Loans Outstanding
Accounting Policies: The accompanying schedule of federal awards includes the federal grant activity of Birch Apartments, Inc. (the
Organization) and is presented on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The Organization did not use the de minimis cost rate.
The Organization had the following loan/grant balances outstanding at June 30, 2023. These loan/grant balances
outstanding are also included in the federal expenditures presented in the schedule.
FEDERAL
ASSISTANCE
LISTING AMOUNT
CLUSTER/PROGRAM TITLE NUMBER OUTSTANDING
Section 811 14.181 $ 1,039,900