Notes to SEFA
Title: Loans Outstanding
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the Federal assistance activity of Woonsocket Neighborhood Development Corporation d/b/a NeighborWorks Blackstone River Valley and Affiliates (collectively, the Agency) 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 (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The Agency's consolidating financial statements include the operations of certain affiliates, which are not included in the accompanying Schedule of Expenditures of Federal Awards for the year ended December 31, 2024, since those affiliates are not subject to the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The Agency has elected not to use the 10% de minimis cost rate for its Federal programs.
The following Assistance Listing Numbers: 14.157, 14.181, 21.027 indicated item represents an outstanding loan balance at December 31, 2024.