Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note 1. Basis of PresentationThe accompanying schedule of expenditures of federal and nonfederal awards (the Schedule) includes the federal award activity of Community Development Corporation of Fort Wayne under programs of the federal government for the year ended December 31, 2022. 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, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). The schedule also presents nonfederal activity in accordance with the Uniform Compliance Guidelines for Examination of Entities Receiving Financial Assistance from Government Sources issued by the Indiana State Board of Accounts. Because the Schedule presents only a selected portion of the operations of Community Development Corporation of Fort Wayne, it is not intended and does not present the financial position, changes in net assets, or cash flows of Community Development Corporation of FortWayne.Note 2. Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Federal expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein 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.
ECONOMIC ADJUSTMENT ASSISTANCE (11.307) - Balances outstanding at the end of the audit period were 3272786. ECONOMIC ADJUSTMENT ASSISTANCE (11.307) - Balances outstanding at the end of the audit period were 1228309.