Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures are recognized following the cost principles contained within the UniformGuidance, wherein certain types of expenditures are not allowable or are limited.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
ECONOMIC ADJUSTMENT ASSISTANCE (11.307) - Balances outstanding at the end of the audit period were 2589857. 7(A) LOAN GUARANTEES (59.012) - Balances outstanding at the end of the audit period were 4783247. MICROLOAN PROGRAM (59.046) - Balances outstanding at the end of the audit period were 701010.