Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: (1) 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 types of expenditures are not allowable or are limited as to reimbursement. (2) The Organization has elected not to use the 10 percent de minimis cost rate as allowed under the Uniform Guidance, except when required by the granting agency. (3) No awards passed through to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis cost rate as allowed under the Uniform Guidance, except when required by the granting agency.
DISASTER ASSISTANCE LOANS (59.008) - Balances outstanding at the end of the audit period were 150000.
Title: Donated personal protective equipment
Accounting Policies: (1) 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 types of expenditures are not allowable or are limited as to reimbursement. (2) The Organization has elected not to use the 10 percent de minimis cost rate as allowed under the Uniform Guidance, except when required by the granting agency. (3) No awards passed through to subrecipients.
De Minimis Rate Used: N
Rate Explanation: The Organization has elected not to use the 10 percent de minimis cost rate as allowed under the Uniform Guidance, except when required by the granting agency.
During the year ended June 30, 2022, the Organization did not receive donated personal protective equipment.