Notes to SEFA
Title: Loans
Accounting Policies: The accompanying schedule of expenditures of federal and state awards includes the federal and state grant activity of the City of Plano, Texas (the City) and is presented on the modified accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Guidance and TxGMS. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
The City's reporting entity is defined in Note 1 to the City's basic financial statements. Federal and state awards received directly from federal and state agencies as well as federal and state awards passed through other government agencies are included on the schedule.
De Minimis Rate Used: N
Rate Explanation: The City has elected not to use the ten percent de minimis indirect cost rate allowed under the Uniform Guidance.
At September 30, 2024, the amount of loans outstanding related to the Community Development Block Grants and HOME Investment Partnerships Program was approximately $754,398 and $92,524, respectively.