Title: Note A - General
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200 Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in Cen∙Cal Business Finance Group’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Cen∙Cal Business Finance Group has elected not to use the 10 percent De Minimis indirect cost rate as covered in 2 CFR § 200.414.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of Cen∙Cal Business Finance Group. Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. The information in this SEFA is presented in accordance with the requirements of the Uniform Guidance
Title: Note B - Basis of Accounting
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200 Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in Cen∙Cal Business Finance Group’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Cen∙Cal Business Finance Group has elected not to use the 10 percent De Minimis indirect cost rate as covered in 2 CFR § 200.414.
The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200 Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in Cen∙Cal Business Finance Group’s basic financial statements.
Title: Note C - Economic Development Assistance RFL Grant Calculation
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200 Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in Cen∙Cal Business Finance Group’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Cen∙Cal Business Finance Group has elected not to use the 10 percent De Minimis indirect cost rate as covered in 2 CFR § 200.414.
The amount reported on the SEFA for expenditures related to the Economic adjustment Assistance Revolving Loan Fund (RLF) Grant (ALN #11.307) is calculated using various criteria as defined by 2 CFR Part 200. The calculation for the year ended September 30, 2023, is as follows:
Title: Note D - Reconciliation of City of Fresno Federal Awards
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200 Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in Cen∙Cal Business Finance Group’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Cen∙Cal Business Finance Group has elected not to use the 10 percent De Minimis indirect cost rate as covered in 2 CFR § 200.414.
Total expenditures per Cen-Cal Business Finance Group
at September 30, 2023
Reverse July - September 2023 RLF loan balances
Reverse July - September 2023 cash and investment balances Reverse July - September 2023 administrative expenses charged Reverse July - September 2023 unpaid principal of all loans written off
Title: Note E - Indirect Cost Rate
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200 Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in Cen∙Cal Business Finance Group’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Cen∙Cal Business Finance Group has elected not to use the 10 percent De Minimis indirect cost rate as covered in 2 CFR § 200.414.
Cen∙Cal Business Finance Group has elected not to use the 10 percent De Minimis indirect cost rate as covered in 2 CFR § 200.414.