Notes to SEFA
The reported expenditures were calculated as follows in accordance with guidance by the grantor: Revolving Loan Fund (RLF): Outstanding loans as of December 31, 2024 $ 2,103,432 Cash and Investments as of December 31, 2024 859,708 Administrative expenses paid out of RLF income during 2024 5,821 Unpaid principal on loans written off during 2024 - Subtotal 2,968,962 Calculation of Federal Participation Rate (FPR): Original grant $ 5,000,000 Original match (In-kind) 178,000 Subtotal 5,178,000 FPR - Original grant awarded divided by total including original match 96.56% Expenditures reported on the SEFA $ 2,866,829