Title: LOAN/LOAN GUARANTEE OUTSTANDING BALANCES
Accounting Policies: EXPENDITURES REPORTED ON THE SCHEDULE ARE REPORTED ON THE ACCRUAL BASIS.
De Minimis Rate Used: Y
Rate Explanation: BRIXHAM MONTESSORI FRIENDS SCHOOL HAS ELECTED TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
COMMUNITY FACILITIES (10.425) - BALANCES OUTSTANDING AT THE END OF THE AUDIT PERIOD WERE $883,700 AND $89,727.