8. Fair Value of Financial Instruments	12 Months Ended
Mar. 30, 2019
Notes
8. Fair Value of Financial Instruments	8. Fair Value of Financial Instruments Fair value estimates are dependent on subjective assumptions and involve significant uncertainties resulting in variability in estimates with changes in assumptions. Cash and cash equivalents The carrying amount approximates fair value and is classified within Level 1 of the fair value hierarchy of the guidance on Fair Value Measurements (see Note 1). Investment in Pemberwick Fund, a short duration bond fund The fair value of Pemberwick is based on current market quotes received from active markets. Pemberwick’s NAV is calculated and published daily (see Note 4). Investment in local partnerships The carrying amount approximates fair value. The Partnership accounts for its investment in Fulton Street Houses in accordance with the equity method of accounting; such investment reached a zero balance in a prior year (see Note 1). The determination of fair value requires significant judgments, which include assumptions regarding capitalization rates, occupancy rates, projected operating results, availability of financing, exit plan, extended use provisions of Fulton Street Houses under the terms of the applicable financing agreements, comparable sales and other factors deemed necessary by the Partnership. The fair value of the investment in Fulton Street Houses was determined using Level 3 inputs under the fair value hierarchy of the guidance on Fair Value Measurements (see Note 1) as of March 30, 2019 and 2018 and is presented here for disclosure purposes only. Accounts payable and accrued expenses The carrying amount approximates fair value due to its short term nature. Payable to general partner and affiliates The carrying amount approximates fair value due to its short term nature.

8. Fair Value of Financial Instruments

12 Months Ended

Mar. 30, 2019

8. Fair Value of Financial Instruments

Fair value estimates are dependent on subjective assumptions and involve significant uncertainties resulting in variability in estimates with changes in assumptions.

Cash and cash equivalents

The carrying amount approximates fair value and is classified within Level 1 of the fair value hierarchy of the guidance on Fair Value Measurements (see Note 1).

Investment in Pemberwick Fund, a short duration bond fund

The fair value of Pemberwick is based on current market quotes received from active markets. Pemberwick’s NAV is calculated and published daily (see Note 4).

Investment in local partnerships

The carrying amount approximates fair value. The Partnership accounts for its investment in Fulton Street Houses in accordance with the equity method of accounting; such investment reached a zero balance in a prior year (see Note 1). The determination of fair value requires significant judgments, which include assumptions regarding capitalization rates, occupancy rates, projected operating results, availability of financing, exit plan, extended use provisions of Fulton Street Houses under the terms of the applicable financing agreements, comparable sales and other factors deemed necessary by the Partnership. The fair value of the investment in Fulton Street Houses was determined using Level 3 inputs under the fair value hierarchy of the guidance on Fair Value Measurements (see Note 1) as of March 30, 2019 and 2018 and is presented here for disclosure purposes only.

Accounts payable and accrued expenses

The carrying amount approximates fair value due to its short term nature.

Payable to general partner and affiliates

The carrying amount approximates fair value due to its short term nature.