Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Montana Business Assistance Connection, Inc. (Organization) and is presented on the accrual basis of accounting. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements.
The Organization did not elect to use the 15% de minimis cost rate.
Federal expenditures for the Economic Development Administration RLF were calculated as follows for the year ending December 31, 2025: Award #05-79-06014 EDA RLF loans receivable at December 31, 2025 $ 345,097 EDA RLF cash balance at December 31, 2025 246,392 Administrative expenses paid from EDA RLF income for the year ending December 31, 2025 20,185 Unpaid principal of EDA RLF written off during the year ending December 31, 2025 - Total 611,674 Multiplied by federal grant rate 100% Total Award #05-79-06014 $ 611,674
The Organization did not provide awards to subrecipients during the year ended December 31, 2025.