Title: Note A – General
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is
presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200
Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from
amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in
Cen∙Cal Business Finance Group’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Cen∙Cal Business Finance Group has elected not to use the 10 percent De Minimis indirect cost rate as covered
in 2 CFR § 200.414.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal
award programs of Cen∙Cal Business Finance Group. Federal awards received directly from federal agencies, as
well as federal awards passed through other government agencies are included in the schedule. The information
in this SEFA is presented in accordance with the requirements of the Uniform Guidance.
Title: Note B – Basis of Accounting
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is
presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200
Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from
amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in
Cen∙Cal Business Finance Group’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Cen∙Cal Business Finance Group has elected not to use the 10 percent De Minimis indirect cost rate as covered
in 2 CFR § 200.414.
The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is
presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200
Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from
amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in
Cen∙Cal Business Finance Group’s basic financial statements.
Title: Note C – Economic Development Assistance RFL Grant Calculation
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is
presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200
Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from
amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in
Cen∙Cal Business Finance Group’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Cen∙Cal Business Finance Group has elected not to use the 10 percent De Minimis indirect cost rate as covered
in 2 CFR § 200.414.
The amount reported on the SEFA for expenditures related to the Economic adjustment Assistance Revolving
Loan Fund (RLF) Grant (Assistance Listing #11.307) is calculated using various criteria as defined by 2 CFR
Part 200. The calculation for the year ended September 30, 2024, is as follows:
City Revolving
Balance of RLF loans outstanding at September 30, 2024 $ 729,131
Cash and investment balance at September 30, 2024 121,067
Administrative expenses charged 46,516
Unpaid principal of all loans written off -
Subtotal 896,714
CARES Act
Balance of RLF loans outstanding at September 30, 2024 $ 612,400
Cash and investment balance at September 30, 2024 126,466
Administrative expenses charged 54,781
Unpaid principal of all loans written off -
Subtotal 793,647
Federal share 100%
Total expenditures reported at September 30, 2024 $ 1,690,361
Title: Note D – Reconciliation of City of Fresno Federal Awards
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is
presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200
Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from
amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in
Cen∙Cal Business Finance Group’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Cen∙Cal Business Finance Group has elected not to use the 10 percent De Minimis indirect cost rate as covered
in 2 CFR § 200.414.
Total expenditures per Cen-Cal Business Finance Group
at September 30, 2024 $ 1,690,361
Reverse July - September 2024 RLF loan balances 34,475
Reverse July - September 2024 cash and investment balances (46,618)
Reverse July - September 2024 administrative expenses charged 5,568
Reverse July - September 2024 unpaid principal of all loans written off -
Federal expenditures per City of Fresno at June 30, 2024 $ 1,683,786
Title: Note E – Indirect Cost Rate
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is
presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200
Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform
Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from
amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in
Cen∙Cal Business Finance Group’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: Cen∙Cal Business Finance Group has elected not to use the 10 percent De Minimis indirect cost rate as covered
in 2 CFR § 200.414.
Cen∙Cal Business Finance Group has elected not to use the 10 percent De Minimis indirect cost rate as covered
in 2 CFR § 200.414.