Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal grant activity of the Commission and is presented on the modified accrual basis of accounting. 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). Therefore, some amounts presented in this Schedule may differ from amounts presented in or used in the preparation of the financial statements. The Commission did not use the ten percent de minimis indirect cost rate
No federal awards were provided to subrecipients.
Federal expenditures for the Economic Adjustment Assistance Program were calculated in accordance with the U.S. Office of Management and Budget July 2024, Compliance Supplement, as follows: Balance of Revolving loan Fund (RLF) loans outstanding as of June 30, 2025 Cash and investment balance in RLF as of June 30, 2025 Administrative expenses paid out of RLF income during the year ended June 30, 2025 EDA2 Revolving Loan Fund EDA3 Revolving Loan Fund $ 1,464,139 $ 4,452,271 59,412 55,508 171,211 250,147 Total Multiply: Federal share of the RLF Total Federal Expenditures 1,579,059 100% $ 1,579,059 4,873,629 100% $ 4,873,629