Instructions for RD 3560-10

MULTI-FAMILY HOUSING BORROWER BALANCE SHEET

Borrowers, or their authorized representative, are required to complete this form and submit it annually at the close of the borrower's fiscal year. 

Submit the original of the completed form in hard copy or facsimile to the appropriate Rural Development servicing office.

Features for transmitting the form electronically are available to those customers with access credentials only.  If you would like to establish online access credentials with USDA, follow the instructions provided at the USDA eForms web site.

Borrowers, or their representative, must complete all of the items specified in the following table.

Fld Name / Item No.	Instruction
1 Project Name	Enter the project name.
2 Borrower Name	Enter the name of the borrower.
3 Borrower ID and Project No	Enter borrower’s ID and the project number.
4 Current Year	Enter the beginning and ending dates of the project’s current fiscal year.
5 Prior Year	Enter the beginning and ending dates of the project’s prior fiscal year.
6 Comments	Enter any comments.

Assets

Current Assets

Fld Name / Item No.	Instruction
1 General Operating Account	Enter the general operating account balance for the current and prior fiscal years.  Enter comments, if appropriate.
2 R.  E.  Tax and Insurance Account	Enter the real estate tax and insurance account balance for the current and prior fiscal years.  Enter comments, if appropriate.
3 Reserve Account	Enter the reserve account balance for the current and prior fiscal years.  Enter comments, if appropriate.
4 Security Deposit Account	Enter the security deposit account balance for the current and prior fiscal years.  Enter comments, if appropriate.
5 Other Cash	Enter other cash accounts and identity of the source for the current and prior fiscal years.  Enter comments, if appropriate.
6 Other	Enter other account balances and identify the source for the current and prior fiscal years.  Enter comments, if appropriate.
7 Accounts Receivable	Enter accounts receivable balance and attach a list of accounts receivable for the current and prior fiscal years.  Enter comments, if appropriate.
8 Allowance For Doubtful Accounts	Enter the allowance for doubtful account balance for the current and prior fiscal years.  Enter comments, if appropriate.
9 Inventories	Enter the inventories (supplies) balance for the current and prior fiscal years.  Enter comments, if appropriate.
10 Prepayments	Enter any prepayment balance for the current and prior fiscal years.  Enter comments, if appropriate.
11 Other	Enter any other current asset account balances for the current and prior fiscal years and identify the source.  Enter comments, if appropriate.

Fld Name / Item No.	Instruction
12 Total Current Assets	For total current assets enter the sum of rows 1-11 under each column.  Enter any comments, if appropriate.

Fixed Assets

Fld Name / Item No.	Instruction
13 Land	Enter amount for land for the current and prior fiscal years.  Enter comments, if appropriate.
14 Buildings	Enter amount for buildings for the current and prior fiscal years.  Enter comments, if appropriate.
15 Less: Accumulated Depreciation	Enter amount for accumulated depreciation for current and prior fiscal years.  Enter comments, if appropriate.
16 Furniture and Equipment	Enter amount for furniture and equipment for the current and prior fiscal years.  Enter comments, if appropriate.
17 Less: Accumulated Depreciation	Enter amount less: accumulated depreciation for the current and prior fiscal years.  Enter comments, if appropriate.
18 Other	Enter other fixed assets for the current and prior fiscal years.  Enter comments, if appropriate.
19 Total Fixed Assets	For total fixed assets add rows 13-18 under each column.  Enter any comments, if appropriate.

Other Assets

Fld Name / Item No.	Instruction
20 Other	Enter any other assets for the current and prior fiscal years and identify the source.  Enter comments, if appropriate.
21 Total Assets	For total assets add rows 12, 19 and 20 under each column.

Liabilities and Owners Equity

Current Liabilities

Fld Name / Item No.	Instruction
22 Accounts Payable	Enter accounts payable balance and attach a list of the accounts payable for the current and prior fiscal years.  Enter comments, if appropriate.
23 Notes Payable	Enter notes payable balance and attach a list of notes payable for the current and prior fiscal years.  Enter comments, if appropriate.
24 Security Deposits	Enter balance of security deposits for the current and prior fiscal years.  Enter comments, if appropriate.
25 Total Current Liabilities	For total current liabilities add rows 22-24 under each column.  Add any appropriate comments.

Long-Term Liabilities

Fld Name / Item No.	Instruction
26 Notes Payable Rural Development	Enter the balance of notes payable to Rural Development for the current and prior fiscal years.  Enter comments, if appropriate.
27 Other	Enter balance for any other liabilities and identify the source for the current and prior fiscal years.  Enter comments, if appropriate.

Fld Name / Item No.	Instruction
28 Total Long-Term Liabilities	For total long-term liabilities add rows 26 and 27 under each column.  Enter comments, if appropriate.
29 Total Liabilities	For total liabilities add rows 25 and 28 under each column.  Enter comments, if appropriate.
30 Owner’s Equity (net worth)	For owner’s equity (net worth) subtract row 29 from row 21 under each column.
31 Total Liabilities and Owner’s Equity	For total liabilities and owner’s equity add rows 29 and 30 under each column.

Page 2

Signature Section

Fld Name / Item No.	Instruction
1 Date	Enter the date the form is signed.
2 Signature of Borrower or Borrower’s Representative	Signature of the borrower or the borrower’s representative.
3 Title	Enter title of the person signing above.

Rural Development completes the remaining items on the form.