Notes to SEFA
Title: Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of
accounting. Such expenditures are recognized following the cost principles contained in Title 2
U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts
shown on the Schedule represent adjustments or credits made in the normal course of business
to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are
presented where available.
De Minimis Rate Used: N
Rate Explanation: The Fund has established and negotiated an approved indirect cost
rate. As a result, the Fund has elected not to use the 10% de minimis indirect cost rate allowed
under the Uniform Guidance.
Of the expenditures presented in the Schedule, the Fund provided no awards to subrecipients.
Title: Outstanding Federal Loans
Accounting Policies: Expenditures reported on the Schedule are reported on the modified accrual basis of
accounting. Such expenditures are recognized following the cost principles contained in Title 2
U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost
Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain
types of expenditures are not allowable or are limited as to reimbursement. Negative amounts
shown on the Schedule represent adjustments or credits made in the normal course of business
to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are
presented where available.
De Minimis Rate Used: N
Rate Explanation: The Fund has established and negotiated an approved indirect cost
rate. As a result, the Fund has elected not to use the 10% de minimis indirect cost rate allowed
under the Uniform Guidance.
There are no outstanding federal loan balances at December 31, 2023.