Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Schedule of expenditures of federal awards includes the federal award activity of Three Rivers Planning and Development District under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations ofthe District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the District.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the costprinciples contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
COVID-19 ECONOMIC ADJUSTMENT ASSISTANCE (11.307) - Balances outstanding at the end of the audit period were 4077251. COVID-19 ECONOMIC ADJUSTMENT ASSISTANCE (11.307) - Balances outstanding at the end of the audit period were 3248184. ECONOMIC ADJUSTMENT ASSISTANCE (11.307) - Balances outstanding at the end of the audit period were 3037338. APPALACHIAN RESEARCH, TECHNICAL ASSISTANCE, AND DEMONSTRATION PROJECTS (23.011) - Balances outstanding at the end of the audit period were 1948937. INTERMEDIARY RELENDING PROGRAM (10.767) - Balances outstanding at the end of the audit period were 2432810.
Title: DEFEDERALIZATION
Accounting Policies: The accompanying Schedule of expenditures of federal awards includes the federal award activity of Three Rivers Planning and Development District under programs of the federal government for the year ended September 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations ofthe District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the District.Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the costprinciples contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The EDA Revolving Loan Fund was defederalized during the current fiscal year. The schedule above includes the program cash balance, LoansReceivable balance as of the date of defederalization and administrative expenses. Administrative expenses include administrative costs incurred during the year prior to the date of defederalization.