Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the grant activityof the Authority and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore some amounts presented in this schedule may differ from amounts presented in, or used in preparation of the basic financial statements. The Authorityhas not elected to use the ten percent de minimus indirect cost rate.
At March 31, 2025 the Authority had the following loan balances outstanding. The beginning loanbalances totaling $1,293,934are included n the federal expenditures. See the Notes to the SEFA for table.