Notes to SEFA
5. Basis for Determining Expenditures of Federal Awards for the Economic Adjustment Assistance Program, Federal CFDA 11.307 The Office of Management and Budget (OMB) Compliance Supplement formula to determine the amount to be presented on the schedule of expenditures of federal awards for revolving loan fund (RLF) grants under federal CFDA 11.307. The formula to determine expenditures to be reported in the Schedule is as follows: (1) The balance of RLF loans outstanding at the end of the recipient's fiscal year, plus; (2) The cash and investment balance in the RLF at the end of the fiscal year, plus; (3) Administrative expenses paid out of the RLF during the year, plus; (4) The unpaid principal of all loans written off during the year; and then multiply this sum by; (5) The federal share of the RLF based on the federal grant rate as specified in the grant award. Accordingly, 3CORE has reported expenditures of federal awards for its Economic Adjustment Assistance funded RLF program as follows: RLF 4 RLF 3 CARES Balance of RLF loans outstanding at June 30, 2025 $ 734,352 $ 513,504 Cash balance in RLF at June 30, 2025 479,939 927,385 Administrative expenses paid out of the RLF during the year 14,451 11,583 Unpaid principal of all RLF loans written off during the year - - Total RLF loan pool 1,228,742 1,452,472 The Federal share of the RLF loan pool 82.44% 100% Total RLF expenditures for year ending June 30, 2025 $1,012,984 $1,452,472