Form RD 3560-10 at a glance
What it is: Form RD 3560-10 is the Multi-Family Housing Borrower Balance Sheet.
Who signs: Sign with the Signature of Borrower or Borrower' Representative, the Date and the Title. Under Part II - Verification of Review, the reviewer of the borrower's records signs, or a review completed, dated and signed by a person or firm qualified by license or certification is attached in lieu of the above verification and signature.
A filled-in Form RD 3560-10 example: a borrower's balance sheet with one account
How to fill out Form RD 3560-10, box by box
Project Name, Borrower Name, Borrower ID and Project No. and the dates
Under Part I - Balance Sheet, enter the Project Name, the Borrower Name and the Borrower ID and Project No.
Under Current Year and Prior Year, enter the Beginning Dates and the Ending Dates.
Current Assets
Under Current Assets, enter 1. General Operating Account, 2. R.E. Tax & Insurance Account, 3. Reserve Account and 4. Security Deposit Account.
Identify 5. Other Cash and 6. Other.
For 7. Total Accounts Receivable (Attach list), enter Accts Rcvbl 0-30 Days, Accts Rcvbl 30-60 Days, Accts Rcvbl 60-90 Days and Accts Rcvbl Over 90 Days.
Enter 8. Less: Allowance for Doubtful Accounts, 9. Inventories (supplies) and 10. Prepayments.
For 12. Total Current Assets, Add 1 thru 11.
Fixed Assets and Other Assets
Under Fixed Assets, enter 13. Land, 14. Buildings, 15. Less: Accumulated Depreciation, 16. Furniture & Equipment and 17. Less: Accumulated Depreciation.
For 19. Total Fixed Assets, Add 13 thru 18.
Under Other Assets, enter 20. and 21. Total Assets, Add 12, 19, and 20.
Current Liabilities
Under Current Liabilities, enter 22. Total Accounts Payable (Attach list).
For Accts Payable, enter 0-30 Days, 30-60 Days, 60-90 Days and Over 90 Days.
Enter 23. Notes Payable (Attach list) and 24. Security Deposits. For 25. Total Current Liabilities, Add 22 thru 24.
Long-Term Liabilities and Owner's Equity
Under Long-Term Liabilities, enter 26. Notes Payable Rural Development and 27. Other (Identify). For 28. Total Long-Term Liabilities, Add 26 and 27.
For 29. Total Liabilities, Add 25 and 28.
For 30. Owner's Equity (Net Worth), 21 minus 29.
For 31. Total Liabilities and Owner's Equity, Add 29 and 30.
Signature of Borrower or Borrower' Representative
Sign with the Signature of Borrower or Borrower' Representative, the Date and the Title.
Part II - Verification of Review
Under Part II - Verification of Review, the reviewer of the borrower's records signs and enters the Date, the Signature, the Name and Title and the Address, certifying that no identity of interest exists between the reviewer and any individual or organization doing business with the project or borrower.
In lieu of the Part II verification and signature, a review completed, dated and signed by a person or firm qualified by license or certification may be attached; if it is attached, mark the box.
Sources
[1] Form RD 3560-10 (02-05), Multi-Family Housing Borrower Balance Sheet, USDA Rural Development (the Official source link on this page).