Notes to SEFA
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The federal fund expenditure shown above for the capital advance represents the original loan balance and balance outstanding as of June 30, 2025. The advance does not have to be repaid if the project serves eligible individuals for the remainder of the compliance period.