Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of the Town under programs of the federal government for the fiscal year ended June 30, 2025.
At June 30, 2025, the Town had outstanding loans obtained through USDA Rural Development. Within the General Fund, the Town has two outstanding loans obtained through USDA Rural Development, Federal Assistance Listing #10.766. The outstanding balance for the 97-21 loan at June 30, 2025 is $3,015,637 and did not incur any new loans during the year. The K-8 loan had a beginning balance of $35,163,894 plus $9,000,000 of new loans during the year. The outstanding balance at June 30, 2025 was $43,111,133.