Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal assistance activity of ROC USA, LLC and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
ROC USA, LLC and Affiliates have elected not to use the 10% de minimis cost rate for its federal programs.
The Capital Magnet Fund listed above is to be used as a Revolving Loan Fund and is shown on the schedule of expenditures of federal awards until the five-year investment compliance period is completed in February 2025. The amount presented in the above schedule consists of total proceeds of the grant deployed or committed for qualifying loans as of December 31, 2025, and amounts allowable as administrative fee expended in 2025. Grant funds advanced but not deployed or committed as of December 31, 2025, are reflected as conditional advances. See the Notes to the SEFA for chart/table.