Notes to SEFA
The CDC has revolving loan programs for low-income housing projects and business development. Under these federal programs, repayments to the CDC are considered program income and loans of such funds to eligible recipients are considered expenditures. A detail of current year activity is as follows: See the Notes to the SEFA for chart/table.
The amounts shown as current year expenditures represent only the federal award portion of the program costs, including the Corporation portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
A portion of the amounts shown as current year expenditures were incurred in prior periods.