Audit 290157

Title: Loan/Loan Guarantee Outstanding Balances Accounting Policies: See the Notes to the SEFA for chart/table. The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of SEDA Council of Governments under programs of the federal govermnent for the year ended June 30, 2023. 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 (Uniform Guidance). Because the schedule presents only a selected portion of the operations of the Council, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Council. Some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Federal receipts are reported on the cash basis of accounting as requested by Pennsylvania state agencies. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. ECONOMIC ADJUSTMENT ASSISTANCE (11.307) - Balances outstanding at the end of the audit period were $4,757,940. APPALACHIAN RESEARCH, AND TECHNICAL ASSISTANCE PROJECTS (23.011) - Balances outstanding at the end of the audit period were $418,544. INTERMEDIARY RELENDING PROGRAM (10.767) - Balances outstanding at the end of the audit period were $272,854.