Notes to SEFA
The City did not have any federal loans or loan guarantees outstanding during the year ended September 30, 2024.
During the year ended September 30, 2024 the City had no sub-recipients.
The City did not receive any noncash assistance or federally funded insurance during the year ended September 30, 2024.
Grant monies received and disbursed by the City are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the City does not believe that such disallowance, if any, would have a material effect on the financial position of the City.
The City is also a sub‐recipient of federal funds that have been subjected to testing and are reported as expenditures and listed as federal pass‐through funds. Federal awards other than those indicated as “pass‐through” are considered direct.