Notes to SEFA
Title: Loans
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal awards activity of PCHS under programs of the federal government for the year ended June 30, 2024. The accompanying schedule presents total expenditures in accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, the amounts presented in this schedule may differ from the amounts presented in, or used in, the preparation of the basic financial statements. The accompanying schedule of expenditures of federal awards includes the federal activity of PCHS under programs of the federal government for the year ended June 30, 2024 and is presented on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: PCHS has not elected to use the 10% de minimus indirect cost rate as allowed under the Uniform Guidance.
The balance of loans outstanding at June 30, 2024 consists of: ALN 10.766, Program Name Department of Agriculture - Community Facilities Loans and Grants, Outstanding Balance $11,883,605.