Notes to SEFA
Assistance Listing 10.766 includes both loan and grant activity. Federal awards expended for the loan portion of this program are determined in accordance with 2 CFR 200.502(b). Under that guidance, federal awards expended for loan programs include the value of new loans made or received during the audit period, plus the beginning balance of loans from prior years for which the Federal government imposes continuing compliance requirements, plus any interest subsidy, cash, or administrative cost allowance received. For the fiscal year ended June 30, 2025, the Schedule of Expenditures of Federal Awards includes $2,425,000 related to the loan portion of Assistance Listing 10.766 and $173,225 related to grant expenditures under the same program. Total federal awards expended for Assistance Listing 10.766 for the fiscal year ended June 30, 2025 were $2,598,225. In accordance with 2 CFR 200.510(b), the outstanding loan balance for Assistance Listing 10.766 at June 30, 2025 was $2,425,000.