Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The information in this Schedule is presented in accordance with the provisions 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 Authority, it is not intended to and does not present the financial position, changes in financial position of the Authority in accordance with accounting principles generally accepted in the United States of America.Expenditures related to loan programs are accounted for on the accrual basis of accounting. All other expenditures on the Schedule are reported on the cash 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: The auditee did not use the de minimis cost rate.
APPALACHIAN RESEARCH, TECHNICAL ASSISTANCE, AND DEMONSTRATION PROJECTS (23.011) - Balances outstanding at the end of the audit period were 1011241.