Notes to SEFA
The accompanying Schedule includes the federal award activity of DC Green Bank and is presented on the accrual basis of accounting. The information in the Schedule is presented in accordance with the requirements of the cost principles contained in the Uniform Guidance.
LOAN PROGRAM DC Green Bank entered into a Memorandum of Understanding with the District of Columbia Department of Energy and Environment (DOEE) to support the Building Energy Performance Standards (BEPS) program and deploy capital for building improvements through the American Rescue Plan Act (ARPA) BEPS Revolving Loan Fund. These funds are utilized to support energy efficiency and green building improvements for Affordable Housing Buildings and Under-Resourced Buildings. The terms and conditions of the federal award do not impose any continuing compliance requirements. As such, only loans issued and related loan issuance costs in the current fiscal year are included on the Schedule. DC Green Bank entered into a subaward agreement and loan agreement with the Coalition for Green Capital (CGC), a pass-through entity administering funds under the U.S. Environmental Protection Agency’s National Clean Investment Fund (NCIF) program. Under the terms of the program, DC Green Bank received grant funding of $7,960,000 and loan proceeds of $10,000,000 to support financing for qualified clean energy and decarbonization projects that reduce greenhouse gas emissions and deliver benefits to low-income and disadvantaged communities. Grant funds received are accounted for as deferred revenue and are recognized as grant revenue as eligible loans are funded in accordance with the terms and conditions of the subaward agreement. Loan proceeds are accounted for as a long-term liability for the duration of the performance period, consistent with the terms of the loan agreement. The NCIF program includes ongoing compliance, reporting, and monitoring requirements throughout the performance period. As such, only activity related to loans issued and associated eligible program costs incurred during the current fiscal year are included on the Schedule.
The following schedule is a reconciliation of the total expenditures as shown on the Schedule and the federal funds reported on the statement of net position as of September 30, 2025, which is included as part of the DC Green Bank’s financial statements.