Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal grant activity of Northeastern Pennsylvania Industrial Resource Center, Inc. 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 Northeastern Pennsylvania Industrial Resource Center, Inc., it is not intended to and does not present the financial position, changes in net assets, or cash flows of Northeastern Pennsylvania Industrial Resource Center, Inc.
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.
Northeastern Pennsylvania Industrial Resource Center, Inc. has elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount for the Economic Adjustment Assistance CARES ACT shown in the Schedule is calculated per the 2025 Compliance Supplement released by the Office of Management and Budget as follows: Calculation of Economic Adjustment Assistance CARES ACT as follows:Balance of Economic Adjustment Assistance CARES ACT revolving loans outstanding at June 30, 2025 $192,014 Cash balance in the Economic Adjustment Assistance CARES ACT revolving loans bank account at June 30, 2025 234,470 = 426,484x Federal share percentage per grant award100% =$426,484.