Notes to SEFA
Title: Loans
Accounting Policies: 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 are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate
These amount is included on the Schedule of Expenditures of Federal Awards because it represents a loan still outstanding with the U.S. Department of Treasury (passed through from Travis County). All loan proceeds were received in a the current year. See the notes to the SEFA for chart/table. AL No. 21.027 - Loan Outstanding $6,422,262.