Notes to SEFA
The Schedule of Expenditures of Federal and State Awards presents the activity of all applicable federal and state awards programs of the Ark-Tex Council of Governments (the “Council”). The Council’s reporting entity is defined in Note 1 of the financial statements. Federal and state awards received directly from federal and state agencies, as well as awards passed through other government agencies, are included on the Schedule of Expenditures of Federal and State Awards.
The Schedule of Expenditures of Federal and State Awards is presented using the modified accrual basis of accounting. The modified accrual basis of accounting is described in Note 1 of the financial statements. The information in this schedule is presented in accordance with the requirements of OMB Compliance Supplement and the Texas Grant Management Standards (“TXGMS”). Therefore, some of the amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
The Council has elected not to use the de minimis indirect cost rate as allowed in the Uniform Guidance.
Expenditures for the EDA Revolving Loan Fund were calculated in accordance with 2 CFR 200 §200.502(b) as follows: Revolving Loan Fund - COVID-19 Value of new loans made during audit period $ - Beginning balance of existing RLF loans (9/30/2024) 427,669 Balance of undisbursed federal loan funds 108,619 Administrative cost allowance during the fiscal year - Total EDA Revolving Loan Fund Expenditures 536,288 Federal Participation Rate 100.00% Total Federal Share of EDA RLF Expenditures $ 536,288
None of the expenditures reported on the Schedule of Expenditures of Federal and State Awards were provided to subrecipients.