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Notes to the Financial Statements June 30, 2020 NOTE 3 — RECEIVABLES (continued) D. Loans receivable Summary of changes in loans receivable for the year ended June 30, 2020 is as follows: Beginning Ending balance Additions Deletions balance Computers $ 20 $21395 $ (550) $ 13865 CVUSC 79,105 - - 79,105 AYSO 1161000 - (29,000) 877000 Total $ 195,125 $27395 $(297550) $ 1673970 The District provides interest-free loans to all regular full-time District employees for the purchase of computers. The District will pay for the computers and the employees will reimburse the District through payroll deductions over a payback period not to exceed two years. The District's Employee Computer Purchase Plan allows employees to purchase computers not to exceed $3,000. The District entered into an agreement on April 15, 2016 with the Conejo Valley United Soccer Club (CVUSC) to advance a 5 -year interest free loan to CVUSC payable in 5 equal installments of $10,000. The remaining balance of the loan as of June 30, 2020 was $10,000. The District entered into an agreement on May 4, 2017 for the construction of facilities at Los Cerritos Middle School. As part of the agreement, CVUSC agreed to pay the District a portion of the construction costs totaling $69,105 starting on July 1st of each year following the completion of the construction in installments of $10,000 until the loan has been paid off. The District entered into an agreement on April 25, 2013 with the American Youth Soccer Organization (AYSO) to advance a 10 -year interest free loan to AYSO payable in 10 equal installments of $29,000, due by April 1. W