Notes to SEFA
Community Development Financial Institutions Bond Guarantee Program includes the highest outstanding loan balance guaranteed of $49,853,872 during 2025. The balance at December 31, 2025, was $48,236,852.
The value of Federal awards expended under the Credit Enhancement for Charter School Facilities program is the total of a) amount in the credit enhancement reserves, debt service reserves, and grant reserve funds at the beginning of the year ($36,201,477), plus b) new grants ($0) plus c) any earnings on the reserve accounts ($829,491), minus d) expenses incurred related to the program ($0), and e) payment to a lender of credit enhancement reserve funds that served as collateral ($0).
The Capital Magnet Fund listed on page 66 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 associated with each award is completed at various dates through May 2029. The amount presented represents qualifying grant funds deployed or committed as of December 31, 2025, reinvested program income (interest), and grant funds advanced but not deployed or committed as of December 31, 2025, as follows. Please see the table in Notes.