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. Expenditures represent only the federally funded portions of the programs. The Alliance’s records should be consulted to determine the amounts expended or matched from non-federal sources, if any. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Alliance has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Instead, an indirect cost rate of 26% of applied salaries and benefits was used, limited by funder requirements. The Alliance’s indirect rates are submitted to the Pennsylvania Department of Transportation for approval.
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of the Northeastern Pennsylvania Alliance 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 (CFR) part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements of Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Alliance, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Alliance.
Title: Revolving Loan 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. Expenditures represent only the federally funded portions of the programs. The Alliance’s records should be consulted to determine the amounts expended or matched from non-federal sources, if any. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Alliance has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Instead, an indirect cost rate of 26% of applied salaries and benefits was used, limited by funder requirements. The Alliance’s indirect rates are submitted to the Pennsylvania Department of Transportation for approval.
Northeastern Pennsylvania Alliance administers the following revolving loan programs: (See the Notes to the SEFA for chart/table). Disbursements shown above include loans disbursed to businesses and expenditures for administering the loan programs and include only the Federal portion of the loan balances. The Schedule only includes the administrative costs of the loan programs.
Title: EDA Revolving Loan Funds
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. Expenditures represent only the federally funded portions of the programs. The Alliance’s records should be consulted to determine the amounts expended or matched from non-federal sources, if any. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Alliance has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Instead, an indirect cost rate of 26% of applied salaries and benefits was used, limited by funder requirements. The Alliance’s indirect rates are submitted to the Pennsylvania Department of Transportation for approval.
The Alliance administers two revolving loan funds (CFDA No. 11.307) funded by the U.S. Department of Commerce. At June 30, 2023, the Federal Awards Expended under each program was calculated as follows: (See the Notes to the SEFA for chart/table).