Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 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.
De Minimis Rate Used: Y
Rate Explanation: SBDC, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal
award activity of SBDC, Inc. under programs of the federal government 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 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 SBDC, Inc., it is not intended to and does not
present the financial position, changes in net assets, or cash flows of SBDC, Inc.
Title: Economic Adjustment Assistance Revolving Loan Fund (RLF) Program
Accounting Policies: 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.
De Minimis Rate Used: Y
Rate Explanation: SBDC, Inc. has elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform
Guidance.
See the Notes to the SEFA for chart/table