Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the Federal contracts and grant activity of Three Roots Capital (Organization) and is presented on the accrual basis of accounting. The information in the 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 the Schedule may differ from amounts presented in, or used in, the preparation of the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS RAPID RESPONSE PROGRAM (CDFI RRP) (21.024) - Balances outstanding at the end of the audit period were 657236. RURAL MICROENTREPRENEUR ASSISTANCE PROGRAM (10.870) - Balances outstanding at the end of the audit period were 118285.