Notes to SEFA
Basis of presentation The accompanying schedule of expenditures of federal awards includes the federal award activity of RIDC Southwestern Pennsylvania Growth Fund under programs of the federal government for the year ended December 31, 2024. 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 ("Uniform Guidance"). Because the schedule presents only a selected portion of the operations of RIDC Southwestern Pennsylvania Growth Fund, it is not intended to and does not present the financial position, changes in net assets, or cash flows of RIDC Southwestern Pennsylvania Growth Fund. Federal loan programs The schedule of expenditures of federal awards is required to include the amount of loans disbursed during the year ended December 31, 2024, and the balance of any loans disbursed in prior periods that continue to have on-going compliance requirements. For the year ended December 31, 2024, all expenditures reported on the accompanying schedule of expenditures of federal awards represent amounts disbursed during the year. The loan balance of $1,000,000 remains outstanding as of December 31, 2024. Indirect costs RIDC Southwestern Pennsylvania Growth Fund did not include expenditures for any indirect costs, in accordance with the federal award.