Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of Rural Electric Economic Development, Inc. (the Organization) under programs of the federal government for the year ended December 31, 2025. The information 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 financial position, changes in net assets, or cash flows of the Organization.
Expenditures reported on the schedule represent the outstanding balance of the Organization’s loans as of December 31, 2024 received through the Intermediary Relending Program, plus current year advances. Current year activity of the Intermediary Relending Program is comprised of the following: