Notes to SEFA
Title: LOAN/LOAN GUARANTEE OUTSTANDING BALANCES
Accounting Policies: EXPENDITURES REPORTED IN THE SEFA ARE REPORTED ON THE MODIFIED ACCRUAL BASIS OF ACCOUNTING. SUCH EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN UNIFORM GUIDANCE, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE AUDITEE DID NOT USE THE DE MINIMIS COST RATE.
RURAL RENTAL HOUSING LOANS (10.415) - BALANCS OUTSTANDING AT THE END OF THE AUDIT PERIOD WERE