Notes to SEFA
Title: reconciliation of SEFA expenditures to revenues per finacial statements
Accounting Policies: The Schedule of Expenditures of Federal Awards is prepared in accordance with the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Loan proceeds reported on Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balance $1,291,781 Agrees to Schedule of Expenditures of Federal Awards $1,291,781