Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Blue ValleyCommunity Action, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presentedin accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedulemay differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
HOME INVESTMENT PARTNERSHIPS PROGRAM (14.239) - Balances outstanding at the end of the audit period were 2175000. RURAL RENTAL HOUSING LOANS (10.415) - Balances outstanding at the end of the audit period were 1547712.
Title: NOTE C - FOOD COMMODITIES
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of Blue ValleyCommunity Action, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presentedin accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this schedulemay differ from amounts presented, or used in the preparation of, the basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Amounts shown under the Commodity Supplemental Food Program include non-cash items of commodities receivedand distributed under the grant program