Notes to SEFA
Title: Outstanding Loan Balances
Accounting Policies: The schedule of expenditures of federal awards includes the federal grant activity of the Ward BurtonWildlife Foundation (the Foundation). Expenditures reported on the schedule are reported on the modified cash basis of accounting and,accordingly, represent the total cash expended for the program. The schedule does not include transactions that might be included using the accrual basis of accounting as contemplated by generally accepted accounting principles. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are notallowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
At December 31, 2022, the Foundation had no outstanding loan balances requiring continuing disclosure.