Notes to SEFA
Title: Program Costs
Accounting Policies: The Schedule of Financial Assistance is prepared on the GAAP basis of accounting. Costs incurred for such programs are applied to Federal grants in accordance with the terms of the related Federal grants with the remainder applied to funds provided by other funding sources. The current year presents the balances of loan programs outstanding on the SEFA as of the first day of the year.
De Minimis Rate Used: N
Rate Explanation: The Organization has not elected to use the 10-percent de minimis indirect cost rate as allowed under Uniform Guidance.
The amounts shown as current year expenditures represent only the federal portion of the actual program costs. Actual program costs, including the Organization's portion, may be more than shown.