Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule), includes the federal award activity of Native360 Loan Fund, Inc., under programs of the federal government for the year ended December 31, 2023. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Reg-ulations (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 Native360 Loan Fund, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Native360 Loan Fund, Inc. Expenditures reported on the Schedule are reported on the accrual basis of account-ing. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are lim-ited as to
reimbursement.
De Minimis Rate Used: N
Rate Explanation: Native360 Loan Fund, Inc., has elected not to use the 10.00% de minimis indirect cost rate allowed under the Uniform Guidance.