Notes to SEFA
Title: Loan/Loan Guarantee Outstanding Balances
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance includes the federal and state grant activity of the Agency and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the Chapter 10.650, Rules of the Auditor General. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Agency, it is not intended to and does not represent the financial position of the Agency.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimums indirect cost rate. During the year ended December 31, 2022, the Agency did not elect to use the allowed 10% indirect cost rate.
The Agency did not have any federal loans or loan guarantees outstanding during the year ended December 31, 2022.
Title: Noncash Assistance and Other
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance includes the federal and state grant activity of the Agency and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the Chapter 10.650, Rules of the Auditor General. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Agency, it is not intended to and does not represent the financial position of the Agency.
De Minimis Rate Used: N
Rate Explanation: The Uniform Guidance allows an organization to elect a 10% de minimums indirect cost rate. During the year ended December 31, 2022, the Agency did not elect to use the allowed 10% indirect cost rate.
The Agency did not receive any noncash assistance or federally funded insurance during the year ended December 31, 2022.