Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of B:Side Capital (the "Organization") under programs of the federal government for the year ended December 31, 2022. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.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 limited as to reimbursement. Passthrough entity identifying numbers are presented where available and applicable.
De Minimis Rate Used: N
Rate Explanation: The Organization has not used the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
INTERMEDIARY RELENDING PROGRAM (10.767) - Balances outstanding at the end of the audit period were 385315. RURAL MICROENTREPRENEUR ASSISTANCE PROGRAM (10.870) - Balances outstanding at the end of the audit period were 58840. INTERMEDIARY LOAN PROGRAM (59.062) - Balances outstanding at the end of the audit period were 234444.
Title: Loans Outstanding
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of B:Side Capital (the "Organization") under programs of the federal government for the year ended December 31, 2022. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.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 limited as to reimbursement. Passthrough entity identifying numbers are presented where available and applicable.
De Minimis Rate Used: N
Rate Explanation: The Organization has not used the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The Schedule includes loan balances as of the beginning of the period for loans which the Federal government imposes continuing compliance plus the value of new loans made or received during the year and any interest subsidy, cash, or administrative cost allowances received. The loan balances at December 31, 2022 for loans included on the Schedule is as follows: Intermediary Lending Pilot Program 59.062 $ 234,444 Intermediary Relending Program 10.767 385,315 Rural Microentrepreneur Assistance Program 10.870 58,840 TOTAL $ 678,599
Title: Economic Adjustment Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of B:Side Capital (the "Organization") under programs of the federal government for the year ended December 31, 2022. 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 Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.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 limited as to reimbursement. Passthrough entity identifying numbers are presented where available and applicable.
De Minimis Rate Used: N
Rate Explanation: The Organization has not used the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
The amounts reported in the Schedule for the Economic Adjustment Assistance program consists of the following:Outstanding principal on loans in revolving loan fund $ 1,024,387Cash balance in revolving loan fund 55,000Administrative expenses 163,502TOTAL: $ 1,242,889