Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles, except that reported Federal expenditures include loans issued under the loan program and loan guarantees, which are capitalized as assets and liabilities, respectively, and not reported as expenses in the financial statements.The information included in this schedule is presented in accordance with the requirements of the Uniform Guidance and OMB Circular A-122, Cost Principles for Non-profit Organizations. Some amounts may differ from amounts presented in, or used in the preparation of, the basic financial statements. Reported Federal expenditures include only expenditures paid with Federal funds or reportable program income.
De Minimis Rate Used: N
Rate Explanation: Montana West Economic Development has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
INTERMEDIARY RELENDING PROGRAM (10.767) - Balances outstanding at the end of the audit period were 1017887. COMMUNITY DEVELOPMENT BLOCK GRANTS/STATE'S PROGRAM AND NON-ENTITLEMENT GRANTS IN HAWAII (14.228) - Balances outstanding at the end of the audit period were 1166674. COMMUNITY DEVELOPMENT BLOCK GRANTS/STATE'S PROGRAM AND NON-ENTITLEMENT GRANTS IN HAWAII (14.228) - Balances outstanding at the end of the audit period were 536800.