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How do I create the Notes for Schedule 16?

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If Schedule 16 was prepared then the notes to the Schedule 16 are required

  • Copy the Schedule16Footnotes.docx from SAO Files to Preparer Files folder.
  • Follow the instructions to edit the file and review your grant agreements for any additions

Guidance

  • Note 1 - is required even if no other notes are needed
  • If a note is not needed, delete it.  SAO recommends to number its disclosures in sequential order depending on how many disclosures are present. What is most important is that the number of the disclosure tie to the reference to that note number on the SEFA  
  • Program Costs - only Federal portion of cost is reported.  This is used for matching costs.
  • Revolving Loan - typically community block program, home loan program, or small business loan program
  • Federal Loan - work with your SAO audit team to properly present this.  Fed loans with the state of Washington, check with the state to determine if this has mixed money.
  • Non Cash Awards - usually equipment
  • Indirect Cost Rate- determine which rate is used
  • ARRA - this is the American Recovery and Reinvestment Act of 2009, not many programs left that use this

Upload to the SAO website.

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