Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federalgrant activity of Share of New Square, Inc (the Organization), for the year ended December 31,2022. The information in this schedule is presented in accordance with the requirements of Title 2U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principals,and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presentsonly a selected portion of the operations of the organization, it is not intended to and does notpresent the financial position, changes in net assets, or cash flows of the Organization.Expenditures reported on the Schedule include in the total amount of federal awards expended, thevalue of new loans received during the period, plus the beginning of the audit period balance ofloans from previous years for which the federal government imposes continuing compliancerequirements, plus any interest subsidy, cash, or administrative cost allowance received. Theoutstanding loan balance as of December 31, 2022, was $2,000,000.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
DISASTER ASSISTANCE LOANS (59.008) - Balances outstanding at the end of the audit period were 2000000.