Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of El Centro de la Raza (El Centro) under programs of the federal government for the year ended December 31, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of El Centro, it is not intended to and does not present the financial position, changes in net assets or cash flows of El Centro.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain expenditures are not allowable or are limited as to reimbursement.
El Centro has elected to use the de minimis indirect cost rate allowed under the Uniform Guidance.
El Centro had the following federal loan balances outstanding at December 31, 2025. Loans outstanding at the beginning of the year and loans made during the year are included in the federal expenditures presented in the Schedule. The balance of loans outstanding at December 31, 2025. See Table Note 4-Loans Outstanding on page 38. Capital Magnet Fund, 21.011, $ 750,000. COVID 19 - Emergency Rental Assistance Program, 21.023, $ 4,200,000. COVID 19 - Coronavirus State and Local Fiscal Recovery Funds, 21.027, $ 1,973,604.