Notes to SEFA
Title: Loan/loan guarantee outstanding balances
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. Pass-through entity identifying numbers are presented where available. The Organization has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
CAPITAL MAGNET FUND (21.011) - Balances outstanding at the end of the audit period were 5928211. COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS PROGRAM (21.020) - Balances outstanding at the end of the audit period were 3613157. COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS RAPID RESPONSE PROGRAM (CDFI RRP) (21.024) - Balances outstanding at the end of the audit period were 990632.