Notes to SEFA
Basis of Presentation The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of Cen·Cal Business Finance Group (the Organization). Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. The information in this SEFA is presented in accordance with the requirements of the Uniform Guidance. The accompanying SEFA is presented using the accrual basis of accounting. The information in the SEFA is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations (CFR) part 200 Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in, or used in the preparation of, the SEFA may differ from amounts presented in the basic financial statements. Expenditures of federal awards are primarily reported in the Organization’s basic financial statements. Pass-through Grantor’s Identifying Number When federal awards are received from a pass-through grantor, the SEFA shows, if available, the identifying number assigned by the pass-through grantor. When no identifying number is shown, the Organization determined that no identifying number is assigned for the program, or the Organization was unable to obtain an identifying number from the pass-through grantor. Relationship to Financial Reports Information included in the accompanying SEFA is in substantial agreement with the information reported in the related financial reports for major programs.
The Organization has elected not to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The amount reported on the SEFA for expenditures related to the Economic Development Assistance Revolving Loan Fund (RLF) Grant (Assistance Listing #11.307) is calculated using various criteria as defined by 2 CFR Part 200. The calculation for the year ended September 30, 2025, is as follows:
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