Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in OMB Circular A-122, Cost Principles for Non-Profit Organizations or the cost principles contained in Uniform Guidance wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Assistance Listing Number: 59.072, Program Name: Economic Injury Disaster Loan Emergency Advance, Loans Outstanding December 31, 2021:$150,000, Loans Awarded for the Year Ended December 31, 2022: $1,850,000, Loan Principal Repaid for the Year Ended December 31, 2022 $19,303, Loans Outstanding at December 31, 2022; $1,980,697.