Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of the City of Evansville (the “City”) 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). Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position of the City. Expenditures reported on the Schedule are reported on the cash basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles in OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments or the principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. When federal grants are received on a reimbursement basis, the federal awards are considered expended when the reimbursement is received.
The City has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
CARES Act Supplemental Funding for Economic Development Districts Balance of RLF gross loans outstanding at the end of the fiscal year $ 121,688 Plus: Cash and investment balance in the RLF at the end of fiscal year 151,568 Plus: Loans written off in the current fiscal year 147,958 Total Calculation Basis $ 421,213 Calculation for Federal Participation Rate Original Economic Development Administration Funding $ 420,000 Local Match - Total Original Grant with Original Match $ 420,000 Federal Participation Rate 100% The Federal share ($421,213 x 100%) $ 421,213