Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE B Summary of Significant Accounting Policies(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement.(2) Pass-through entity identifying numbers are presented where available.(3) Clearwater Economic Development Association has elected not to use the 10 percentde minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
RURAL MICROENTREPRENEUR ASSISTANCE PROGRAM (10.870) - Balances outstanding at the end of the audit period were 203666. INTERMEDIARY RELENDING PROGRAM (10.767) - Balances outstanding at the end of the audit period were 1155702.
Title: NOTE C Balance of Loan Programs at Year End
Accounting Policies: NOTE B Summary of Significant Accounting Policies(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement.(2) Pass-through entity identifying numbers are presented where available.(3) Clearwater Economic Development Association has elected not to use the 10 percentde minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
CFDA Number Program NameOutstanding Balance as of September 30, 202210.767 Intermediary Relending Program 1,155,70210.870 Rural Micro-entrepreneur Assistance Program 203,666
Title: NOTE D Sub-Recipients
Accounting Policies: NOTE B Summary of Significant Accounting Policies(1) Expenditures reported on the Schedule are reported on the accrual basis of accounting.Such expenditures are recognized following the cost principles contained in UniformGuidance, wherein certain types of expenditures are not allowable or are limited as toreimbursement.(2) Pass-through entity identifying numbers are presented where available.(3) Clearwater Economic Development Association has elected not to use the 10 percentde minimis indirect cost rate as allowed under the Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Clearwater Economic Development Association did not pass any federal awards through tosubrecipients.