Notes to SEFA
Title: Loan/loan guarantee outstanding 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 allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Fund has not elected to use their 10% de minimus indirect cost rate allowed under the Uniform Guidance. The Fund applies indirect costs in accordance with its cost agreement.
RURAL MICROENTREPRENEUR ASSISTANCE PROGRAM (10.870) - Balances outstanding at the end of the audit period were 848229.