Notes to SEFA
Title: OUTSTANDING LOANS RECEIVABLE
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity ofthe Oklahoma Clean Water State Revolving Fund Loan Account Program and is presented on theaccrual basis of accounting. The information in these schedules is presented in accordance with therequirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). TheProgram has elected not to use the 10-percent de minimis indirect cost rate allowed under the UniformGuidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
At June 30, 2022, the Program's outstanding balance on loans receivable funded by federal awards and related matching funds was $650,524,978, net of an allowance of $0.