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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The Organization does not allocate indirect costs and, therefore, has not elected to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
SECTION 811 - CAPITAL ADVANCE PROGRAM (14.181) - Balances outstanding at the end of the audit period were 2072319.