Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards presents the activity of all federal financial assistance programs of the City of Hollister. The City of Hollister reporting entity is defined in Note 1 of the City's Annual Comprehensive Financial Report. All federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included on the schedule. When federal awards were received from a pass-through entity, the Schedule of Expenditures of Federal Awards shows, if available, the identifying number assigned by the pass-through entity.
The amounts reported in the accompanying Schedule of Expenditures of Federal Awards agree, in all material respects, to amounts reported within the City's basic financial statements. Federal award revenues are reported principally in the City's financial statements as intergovernmental revenues in the governmental funds.
The City of Hollister has received federal grants for specific purposes that are subject to review and audit by the Federal Government pass-through entity. 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.
The program listed below had the following aggregate federally funded loans outstanding at June 30, 2022: Amount AL Number Program Title Outstanding 14.239 HOME Investment Partnership Program $ 2,140,537
The City elected not to use the 10% de minimus indirect cost rate, and did not charge indirect costs to federal grants