Notes to SEFA
The accompanying schedule of expenditures of federal awards presents the activity of all federal financial assistance programs of Truckee River Watershed Council 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 Truckee River Watershed Council, it is not intended to and does not present the financial position, changes in net assets, or cash flows of Truckee River Watershed Council.
Truckee River Watershed Council has received federal grants for specific purposes that are subject to review and audit by the Federal Government. Although such audits could result in expenditure disallowance under grant terms, any required reimbursements are not expected to be material which have not already been recorded.