Notes to SEFA
The accompanying schedule of expenditures of federal awards (the "Schedule") includes the federal award activity of 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 consolidating financial position, changes in net assets or cash flows of the Organization.
Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures in the Schedule. The balance of loans outstanding as of June 30, 2025 consists of: 21.020 Community Development Financial Institutions Program: $ 1,929,278