Notes to SEFA
Title: Basis of Presentation
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 Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Find-A-Way II Community Urban Redevelopment Corporation has elected not to use the 10 percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award
activity of Find-A-Way II Community Urban Redevelopment Corporation (the Corporation) under programs of
the federal government for the year ended September 30, 2024.
The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of
Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit
Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected
portion of the operations of the Corporation, it is not intended to and does not present the Corporation's
financial position, changes in net assets, or cash flows of the Corporation.
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 Uniform Guidance, wherein certain
types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Find-A-Way II Community Urban Redevelopment Corporation has elected not to use the 10 percent de
minimis indirect cost rate as allowed under the Uniform Guidance.
The outstanding balance of loan and loan guarantee programs at September 30, 2024 with continuing
compliance requirements which are reported as federal expenditures on the accompanying Schedule of
Expenditures of Federal Awards was $1,337,068.