The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, CRW’s basic financial statements.
The amount of federal expenditures for the Environmental Protection Agency loans represents the expenditures incurred under the loans during the year ended December 31, 2024. The Environmental Protection Agency requires that the current year expenditures incurred under the loans be reported on the schedule rather than the beginning balance of the loans.
The following is a reconciliation of the draws made during the year ended December 31, 2024 to the total expenditures, as presented on the schedule for loan 72819: Draws received during the year ended December 31, 2024 $4,003,145; Retainage payable as of December 31, 2023 ($36,377); State funding received during year ended December 31, 2024 ($2,058,600); Retainage payable as of December 31, 2024 $272; Expenditures paid prior to year ended December 31, 2023, draw received subsequent to December 31, 2023 ($1,058,073); Expenditures paid prior to year ended December 31, 2024, draw received subsequent to December 31, 2024 $0; Current year expenditures, as reported on the Schedule of Federal Awards $850,367. The balance of the loan outstanding as of December 31, 2024 was $10,327,895. The following is a reconciliation of the draws made during the year ended December 31, 2024 to the total expenditures, as presented on the schedule for loan 71449: Draws received during year ended December 31, 2024 $1,715,695; Retainage payable as of December 31, 2023 ($891,499); State funding received during year ended December 31, 2024 ($280,791); Retainage payable as of December 31, 2024 $152,684; Expenditures paid prior to year ended December 31, 2024, draw received subsequent to December 31, 2024 $797,395; Current year expenditures, as reported on the Schedule of Expenditures of Federal Awards $1,493,484. The balance of the loan outstanding as of December 31, 2024 was $7,739,124.