Notes to SEFA
Title: Loan Outstanding
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal assistance activity of the Social Centers and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Assistance Listing Number 59.008 listed above includes a loan that was fully paid off during fiscal year 2022.