Notes to SEFA
The accompanying schedules of expenditures of federal awards and state fianacial assistance (the "Schedules") include the federal and state government for the year ended June 30, 2025. The information in these Schedules is presented in accordancewith the requirements of Title 2 U.S Code of Federal Regulationsa Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance") Audits of States, LOcal Governments, and Non-Profit Organizations. Therefore, some amounts presented in these Schedules may differ from amounts presented in, or used in the preparation of, the basic finacial statements. Assistance Listing Number ("ALN") numbers are presented for those programs for which such numbers were available. All programs are presented by the federal and State department. Because the Schedules present only a selected portion of the operationsof the District, they are not intended to and do not present the fiancial position, changes in net position, or cash flows of the District.
Exependitures reported on the schedules are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the uniform Guidance, wherin certain types of expenditures are not allowable or are limited as to reimbursement. The District has elected not to use the 10-percent de minimus rate as allowed under the Uniform guidance.
Expenditure Calculation for the Revolving Loan Fund - COVID -19 program was as follows: