Notes to SEFA
Title: SUBRECIPIENTS
Accounting Policies: Note 1 - Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Wyoming Women’s Business Center under programs of the federal government for the year ended September 30, 2022. 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 Wyoming Women’s Business Center, it is not intended to and does not present the financial position, changes in net assets or cash flows of Wyoming Women’s Business Center.
Note 2 - Summary of Significant 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: N
Rate Explanation: The auditee did not use the de minimus cost rate.
Wyoming Women’s Business Center did not provide federal awards to subrecipients during the year ending September 30, 2022.
Title: LOAN PROGRAMS
Accounting Policies: Note 1 - Basis of Presentation
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Wyoming Women’s Business Center under programs of the federal government for the year ended September 30, 2022. 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 Wyoming Women’s Business Center, it is not intended to and does not present the financial position, changes in net assets or cash flows of Wyoming Women’s Business Center.
Note 2 - Summary of Significant 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: N
Rate Explanation: The auditee did not use the de minimus cost rate.
The federal loan programs listed below are administered directly by Wyoming Women’s Business Center and balances and transactions relating to these programs are included in Wyoming Women’s Business Center’s basic financial statements. Loans outstanding at the beginning of the year and loans made during year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at September 30, 2022 consists of: (see notes to SEFA for chart/table)