Notes to SEFA
Title: Shuttered Venue Operators Grant (SVOG)
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, 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.
In July 2021, the Corporation applied for a grant under the Shuttered Venue Operators Grant (SVOG) program. The Corporation was approved for funding with an initial grant of $563,989 received on July 20, 2021, a reconsideration award of $90,541 received on October 6, 2021 and a supplemental award of $327,265 received on November 16, 2021.The U.S. Small Business Administration issued a notice of award on November 10, 2021 totaling $981,795 for the three award amounts. The funding under this program covered eligible expenditures incurred by the Corporation between March 1, 2020 and June 30, 2022 in the amount of $981,795. There were no unexpended funds at June 30, 2022.