Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: THE INFORMATION IN THIS SCHEDULE IS PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING AND IN ACCORDANCE WITH THE REQUIREMENTS OF THE UNIFORM GUIDANCE. EXPENDITURES ARE RECOGNIZED FOLLOWING THE COST PRINCIPLES CONTAINED IN 2 CFR PART 200, COST PRINCIPLES FOR NONPROFIT ORGANIZATIONS, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
MICROLOAN PROGRAM (59.046) - Balances outstanding at the end of the audit period were 1420944. RURAL MICROENTREPRENEUR ASSISTANCE PROGRAM (10.870) - Balances outstanding at the end of the audit period were 305566.