Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Basis of presentationThe accompanying schedule of expenditures of federal awards includes the federal loan activity of CEN-TEXCertified Development Corporation and Affiliates for the year ended June 30, 2022. The information in thisschedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR)Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presentedin, or used in the presentation of the consolidated financial statements.Summary of significant accounting policiesExpenditures - Expenditures related to the federal loan programs represent the full outstanding balance ofeach note payable as required by U.S. Office of Management and Budget (OMB) Compliance Supplement.Expenditures related to other federal programs are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
INTERMEDIARY RELENDING PROGRAM (10.767) - Balances outstanding at the end of the audit period were 2253525. RURAL MICROENTREPRENEUR ASSISTANCE PROGRAM (10.870) - Balances outstanding at the end of the audit period were 58228. COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 755982. INTERMEDIARY LOAN PROGRAM (59.062) - Balances outstanding at the end of the audit period were 524255.