Notes to SEFA
The Schedule of Expenditures of Federal Awards (“SEFA”) includes the expenditures of federal awards of Vermont-Slauson LDC, Inc. The federal information in this schedule is presented in accordance with the regulations of Uniform Grants Guidance, 2 CFR Part 200, Subpart F. These amounts presented in this schedule may differ from amounts presented in, or used in the presentation of the financial statements.
Loans made (loans receivables) from funds received from federal agencies in the form of grants are included in the federal expenditures presented on the SEFA in the year the loans are made. Repayments of principal and interest related to loans receivable made from federal awards are included on the SEFA as program income.