Notes to SEFA
The Supplementary Schedule of Expenditures of Federal Awards includes the federal award activity of Kentucky Highlands Investment Corporation and Subsidiaries. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance. Because the schedule presents only a selected portion of the operations of Kentucky Highlands Investment Corporation and Subsidiaries, it is not intended to and does not present the financial position, change in net assets, or cash flows of Kentucky Highlands Investment Corporation and Subsidiaries.
See the Notes to the SEFA for chart/table
Kentucky Highlands Investment Corporation had the following loan balances (notes payable to federal agencies) outstanding at March 31, 2026. Loans made (loans receivable) from federal loan funds received during the fiscal year ended March 31, 2026, are included in the federal expenditures presented in this schedule. Beginning of year outstanding loan balances that require significant continued compliance monitoring are included in the federal expenditures presented in the Supplementary Schedule of Expenditures of Federal Awards. The proceeds of loans that were received and expended in prior years are not considered federal awards expended when the laws, regulations, and the provisions of contracts or grant agreements pertaining to such loans impose no continuing compliance requirements other than to repay the loans and have been excluded from the Supplementary Schedule of Expenditures of Federal Awards. See the Notes to the SEFA for chart/table.
The amount included for the Economic Adjustment Assistance Revolving Loan Fund in the accompanying Schedule of Expenditures of Federal Awards for the fiscal year ended March 31, 2026, is calculated as follows: See Notes to the SEFA for chart/table.