Notes to SEFA
Accounting Policies: This schedule of expenditures of federal awards includes the federal activity of the Tallahassee Lenders' Consortium, Inc. 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 of Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because this schedule presents only a selected portion of the operations of the Consortium, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Consortium.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.