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 OMB Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The Commission has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. Instead, indirect cost rates were calculated based on various cost pools, which averaged 23.62%. These rates were used, limited by funder requirements. The Commissions indirect rates are submitted to the U.S. Department of Commerce for approval.
ECONOMIC ADJUSTMENT ASSISTANCE (11.307) - Balances outstanding at the end of the audit period were 1582361.