Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant and loan activity of BrightRidge under programs of the federal government for the fiscal year ended June 30, 2025. The information in the 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). Since the schedule presents only a selected portion of the operations of BrightRidge, it is not intended to, and does not present, the financial position, changes in net position, or cash flows of BrightRidge.
The federal loan programs listed subsequently are administered directly by BrightRidge, and balances and transactions relating to these programs are included in BrightRidge basic financial statements. BrightRidge has three outstanding loans obtained through USDA Rural Development, Federal Assistance Listing #10.854. The outstanding balance for the loans at June 30, 2025 is $1,521,185 and there were no new loans during the year.