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 to reimbursement. Grant or award numbers are presented where available. The U.S. Small Business Administration 7(a) loan guarantee Community Advantage Pilot Program does not have grant or award numbers available. The basis of the identifying numbers provided on the schedule of expenditures of federal awards for the contracts are the dates of the award or loan guarantee agreements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS PROGRAM (21.020) - Balances outstanding at the end of the audit period were 441000. 7(A) LOAN GUARANTEES (59.012) - Balances outstanding at the end of the audit period were 201868. MICROLOAN PROGRAM (59.046) - Balances outstanding at the end of the audit period were 50488.