Notes to SEFA
Title: FEDERALLY FUNDED INSURANCE AND FEDERALLY FUNDED LOANS
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the Federal grant activity of Centro San Vicente (CSV) under programs of the federal government for the year ended June 30, 2023, and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: CSV did not elect to use the allowed 10% indirect cost rate.
CSV had no federally funded insurance during the year ended June 30, 2023. The balance of federally funded loans at June 30, 2023 was $580,518 under ALN 14.218.