Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Lewis and Clark Regional Development Council under programs of the federal government for the year ended September 30, 2025. 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 Lewis and Clark Regional Development Council, it is not intended to and does not present the financial position or change in net position of the Lewis and Clark Regional Development Council.
The Council manages the Intermediary Relending Program (USDA). The beginning balance of the outstanding loans for the current year are also included in the federal expenditures presented in the schedule due to ongoing compliance requirements. (SEE TABLE IN NOTES TO SEFA
The Council manages the Revolving Loan Fund (EDA). The following is the calculation of the federal expenditures for the Revolving Loan Fund: (SEE TABLE IN NOTES TO SEFA)
The following schedule ties the total amount of federal awards as stated on the SEFA schedule to the financial statements: (SEE TABLE IN NOTES TO SEFA)