Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grants activity of Fulton County Water Authority, Inc. The information in the 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 the schedule may differ from amounts presented in, or used in the preparation of the financial statements.
No awards were provided to subrecipients.
In connection with various federal grant programs, the Authority is obligated to administer related programs and spend the funds in accordance with regulatory restrictions, and is subject to audit by grantor agencies and other auditors. In cases of noncompliance, the agencies involved may require the Authority to refund program funds.
Fulton County Water Authority, Inc. had the following federal loan balances outstanding that are considered federal awards at December 31, 2024, $938,000.