Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: CEF has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of federal awards (the Schedule) includes the federal grant activity of Colorado Enterprise Fund, Inc. (CEF) under programs of the federal government for the year ended September 30, 2023. 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). Because the Schedule presents only a selected portion of the operations of CEF, it is not intended to and does not present the financial position, changes in net assets, or cash flows of CEF.
Title: Subrecipient Awards
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: CEF has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
There were no awards passed through by CEF to subrecipients.
Title: Loan Ending Balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: Y
Rate Explanation: CEF has elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
See the notes to the SEFA for the table