Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) has been prepared as required under the Office of Management and Budget (OMB) Uniform Guidance. The purpose of the schedule is to present a summary of those activities of Columbia Economic Development Corporation for the year ended December 31, 2025 using the accrual basis of accounting. For purposes of this schedule, federal awards include any assistance provided by a federal agency directly or indirectly in the form of grants, contracts, cooperative agreements, direct appropriations, loans and loan guarantees, and other noncash assistance. Because the schedule presents only a selected portion of the activities of the Organization, it is not intended to, and does not, present either the net position, or statement of revenues, expenses, and changes in net position of the Organization.
Indirect costs are charged to federal grants and contracts when applicable at a predetermined rate and the Organization has elected to use the 15 percent de-minimis indirect cost rate allowed under the Uniform Guidance.
None of the federal awards presented in the accompanying schedule of expenditures of federal awards were provided to sub-recipients for the year ended December 31, 2025.
Activity for loans receivable under federal award programs are as follows for the year ended December 31, 2025: See the Notes to the SEFA for chart/table.