Notes to SEFA
Title: NOTE C - LOANS OUTSTANDING
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: Northern Maine Development Commission has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
See Notes to SEFA for chart/table
Title: NOTE D - ECONOMIC DEVELOPMENT ADMINISTRATION REVOLVING LOAN FUND
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: Northern Maine Development Commission has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
See Notes to SEFA for chart/table