Notes to SEFA
The information in the schedule of expenditures of federal awards (Schedule) is presented in accordance with the requirements of Title U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Therefore, some amounts presented in this Schedule may differ from amounts presented in the preparation of the basic financial statements.
The amount of federal expenditures for the Microloan Demonstration Direct Loan programs and the Microloan Guarantee Pilot Loan program represents the September 30, 2021 loan balances payable to the Small Business Administration (SBA) and the value of new loans received during the fiscal year. The amount for the Microloan Administration grant is the amount of administration allowance grant expended for each SBA Microloan program. The Council received one additional loan during the year. The balance of the loans outstanding at September 30, 2022: Please see table on page 26 of the Single Audit.