Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of the County of Montgomery, Pennsylvania (County) under programs of the federal government for the year ended #N/A. 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 of expenditures of federal awards presents only a selected portion of the operations of the County, it is not intended to and does not present the financial position or changes in net position of the County. Component Units The schedule of expenditures of federal awards does not include federal funds received and expended by independent authorities and other organizations included in the reporting entity under the criteria of the Governmental Accounting Standards Board Statement Number 14, The Financial Reporting Entity, as amended, as component units. Such component units are responsible, when applicable, for obtaining separate audits of their federal award programs.
In-kind values are reported in the schedule of expenditures of federal awards at the fair value of the commodities received and disbursed.
After a Presidential Declared Disaster, Federal Emergency Management Agency (FEMA) provided a Public Assistance Grant to reimburse eligible costs associated with repair, replacement, or restoration of disaster damaged facilities. Nonfederal entities must record expenditures on the schedule of expenditures of federal awards when FEMA has approved the nonfederal entity's project worksheet, and the nonfederal entity has incurred eligible expenditures. For the year ended December 31, 2024, a total of $7,061,843 for approved eligible expenditures was included on the schedule of expenditures of federal awards under ALN 97.036, which represented costs incurred in prior years that were approved by FEMA in the current year.