Notes to SEFA
The accompanying consolidated schedule of expenditures of federal awards (the Schedule) includes the federal award activity of Vinfen Corporation and Affiliates (the Organization) under programs of the federal government for the year ended June 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 the Organization, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Organization.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The expenditures of federal awards listed above for Assistance Listing Number 14.181 with the caption capital advances represent the loan balance outstanding as of July 1, 2024, which was subject to continuing compliance during the year ended June 30, 2025. The outstanding balance of the capital advances as of June 30, 2025 totaled $4,532,000.
The Organization has elected to use to deminimus indirect cost rate allowed under the Uniform Guidance.
For expenditures of federal awards passed-through other entities (indirect awards), the contract identification number listed on the Schedule is the pass-through entity identifying number.