Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures recognized in the SEFSA are reported on the modified cash basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
COMMUNITY FACILITIES LOANS AND GRANTS (10.766) - Balances outstanding at the end of the audit period were 1294371. ECONOMIC INJURY DISASTER LOAN EMERGENCY ADVANCE (59.072) - Balances outstanding at the end of the audit period were 149900.