Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note 1 - Basis of Presentation:The schedule of expenditures of federal awards includes federal grant and loan activity of East Arkansas Planning and Development District, Inc. and is presented on the accrual basis of accounting. This information 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, Audits of States, Local Governments, and Non-Profit Organizations. The Entity did not elect to use the 10% de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
INTERMEDIARY RELENDING PROGRAM (10.767) - Balances outstanding at the end of the audit period were 215904. Cares Act Revolving Loan fund Guarantee Balances outstanding at the end of the audit were $ 1746585.
Title: EDA Revolving Loan Fund
Accounting Policies: Note 1 - Basis of Presentation:The schedule of expenditures of federal awards includes federal grant and loan activity of East Arkansas Planning and Development District, Inc. and is presented on the accrual basis of accounting. This information 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, Audits of States, Local Governments, and Non-Profit Organizations. The Entity did not elect to use the 10% de minimis indirect cost rate.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Note 3 EDA Revolving Loan FundThe EDA Revolving Loan Fund was defederalized during the current fiscal year. The schedule above includes the program cash balance, Notes Receivable Balance as of the date of defederalization. Administrative expenses include administrative costs incurred during the year prior to the date of defederalization.