Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of Citizen Potawatomi Community Development Corporation (CPCDC) under programs of the federal government for the year ended September 30, 2025. The information in the 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 (the “Uniform Guidance”). Because the Schedule presents only a selected portion of the operations of CPCDC, it is not intended to and does not present the financial position, changes in net assets or cash flows of CPCDC. The expenditures of CDFI Financial Assistance Funds are reported in the Schedule when initially expended for an allowable purpose. Subsequent uses of loan repayment proceeds from loans funded with Financial Assistance Funds are not reflected in the Schedule.
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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. CPCDC has elected not to use the 15 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The federal loan program listed subsequently is administered directly by CPCDC and balances and transactions relating to this program are included in CPCDC’s basic financial statements. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at September 30, 2025, was $12,717,526.
The amounts reported in the Schedule for Community Development Financial Institutions (CDFI) Program and the CDFI – Bond Guarantee Program are reported in both current and noncurrent assets in the accompanying financial statements. In addition, the amounts reported in the Schedule for the remaining federal programs are reported as grant receivables, revenues, and expenses in the accompanying financial statements.