Notes to SEFA
Title: Loans Outstanding
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity
and is presented on the accrual basis of accounting. 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. Therefore, some amounts presented in this schedule may differ from amounts
presented in, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The Corporation has not elected to use the 10-percent de minim us indirect cost rate as allowed
under Uniform Guidance.
Program ALN Amount Outstanding
Section 811 Loan 14.155 $1,369,756