Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of Pulaski County Grant Programs under programs of the federal government for the year ended December 31, 2024. 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). Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.
Pulaski County Grant Programs administers a Brownfields Revolving Loan Fund (RLF) Program funded by the EPA under Assistance Listing Number 66.818 – Brownfields Assessment and Cleanup Cooperative Agreements. This program provides loans and subgrants to eligible entities to carry out cleanup activities at Brownfield sites contaminated by hazardous substances, pollutants, or petroleum. In accordance with 2 CFR 200.502, the Schedule of Expenditures of Federal Awards includes:- The value of new loans made or received during the audit period, plus- The balance of loans from previous years at the beginning of the audit period for which the Federal Government imposes continuing compliance requirements, plus- Any interest subsidy, cash, or administrative cost allowance received.The RLF program is designed to operate for many years, and recipients are required to manage program income in perpetuity unless the agreement is terminated and income is returned to the EPA. Even upon closure of these grants, recipients must continue to comply with EPA reporting requirements, including the use of the ACRES system for tracking site progress.