Notes to SEFA
Title: LOANS OUTSTANDING
Accounting Policies: The information presented in the Schedule of Expenditures ofFederal Awards is presented on the accrual basis of accounting, which is consistent with thereporting in the financial statements.
De Minimis Rate Used: N
Rate Explanation: Kennebec Valley Council of Governments has not elected to use the 10 percent deminimus indirect cost rate as allowed under the Uniform Guidance.
In addition to programs reported on the Schedule of Expenditures of Federal Awards,Kennebec Valley Council of Governments has several federal loan programs and/oroutstanding federal loans as follows. We have considered these outstanding loan balancesin determining programs to be tested under the Uniform Guidance.Loan Programs(Federal loan funds administered by KVCOG, loans made to ultimate recipients)OutstandingAL Balance atNumber Program Name June 30, 202210.767 Intermediary Relending Program II $ 193,20210.767 Intermediary Relending Program III 40,59510.767 Intermediary Relending Program IV 164,60711.307 CARES Act Lending Grant 610,75111.307 EDA Revolving Loan Fund 356,81766.814 Brownfields Revolving Loan Fund 322,376$ 1,688,348