Notes to SEFA
Title: NOTE 1 - BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures
are recognized following cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. When federal grants are received on a
reimbursement basis, the federal awards are considered expensed when the reimbursement is received.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected to not 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 Northwestern Indiana Regional Planning Commission (the “Commission”) 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 Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Guidance).
Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures
are recognized following cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. When federal grants are received on a
reimbursement basis, the federal awards are considered expensed when the reimbursement is received.
Title: NOTE 2 - INDIRECT COST RATE
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures
are recognized following cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. When federal grants are received on a
reimbursement basis, the federal awards are considered expensed when the reimbursement is received.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected to not use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
The Commission has elected to not use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Title: NOTE 3 - CALCULATION OF EXPENDITURES OF THE ECONOMIC DEVELOPMENT
ADMINISTRATION REVOLVING LOAN FUND
Accounting Policies: Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures
are recognized following cost principles contained in the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. When federal grants are received on a
reimbursement basis, the federal awards are considered expensed when the reimbursement is received.
De Minimis Rate Used: N
Rate Explanation: The Commission has elected to not use the 10-percent de minimis indirect cost rate as allowed under the
Uniform Guidance.
Laporte Revolving Loan Fund
Balance of RLF gross loans outstanding at the end of the fiscal year $ 192,826
Plus: Cash and investment balance in the RLF at the end of fiscal year 300,731
Total Calculation Basis $ 493,557
Calculation for Federal Participation Rate
Original Economic Development Administration Funding $ 700,000
Local Match 266,667
Total Original Grant with Original Match $ 966,667
Federal Participation Rate ($700,000/$966,667) 72.41%
The Federal share ($493,557 x 72.41%) $ 357,403
CARES Act Supplemental Funding for Economic Development Districts
Balance of RLF gross loans outstanding at the end of the fiscal year $ 81,615
Plus: Cash and investment balance in the RLF at the end of fiscal year 28,168
Total Calculation Basis $ 109,783
Calculation for Federal Participation Rate
Original Economic Development Administration Funding $ 500,000
Local Match -
Total Original Grant with Original Match $ 500,000
Federal Participation Rate 100%
The Federal share ($109,783 x 100%) $ 109,783