Title: EXPENDITURES TO SUBRECIPIENTS
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures arenot allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Northern Maine Development Commission has elected not to use the 10percent de minimis indirect cost rate as allowed under the Uniform Guidance.
FederalALNumber Subrecipient Total59.037 Androscoggin Valley Council of Governments $ 6 ,67959.037 Coastal Enterprises, Inc. 2 0,037$ 26,716
Title: LOANS OUTSTANDING
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis ofaccounting. Such expenditures are recognized following the cost principlescontained in the Uniform Guidance, wherein certain types of expenditures arenot allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Northern Maine Development Commission has elected not to use the 10percent de minimis indirect cost rate as allowed under the Uniform Guidance.
In addition to programs reported on the Schedule of Expenditures of FederalAwards, Northern Maine Development Commission has several outstanding federalloans as follows. We have considered these outstanding loan balances in determiningprograms to be tested under the Uniform Guidance.In addition to programs reported on the Schedule of Expenditures of FederalAwards, Northern Maine Development Commission has several outstanding federalloans as follows. We have considered these outstanding loan balances in determiningprograms to be tested under the Uniform Guidance.Federal Beginning OutstandingAL Balance BalanceNumber 7/1/2021 New Loans 6/30/2022Intermediary Relending Program #1 10.767 $ 330,201 $ - $ 248,603Intermediary Relending Program #2 10.767 264,693 - 232,708Intermediary Relending Program #3 10.767 329,840 - 302,063Intermediary Relending Program #4 10.767 413,831 - 386,132Intermediary Relending Program #5 10.767 521,977 - 495,359Intermediary Relending Program #6 10.767 333,789 - 320,147Rural Microentrepeneur Assistance Program #1 10.870 288,312 - 251,868Rural Microentrepeneur Assistance Program #2 10.870 92,558 - 81,361Rural Microentrepeneur Assistance Program #3 10.870 394,224 - 359,782Rural Microentrepeneur Assistance Program #4 10.870 489,499 - 463,783Microloan #6 59.046 185,362 - 14,259Microloan #7 59.046 388,218 - 335,677Microloan #8 59.046 227,900 272,100 469,149Microloan #9 59.046 - 42,500 42,500TOTALS $ 4,260,404 $ 314,600 $ 4,003,391