Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the Authority under programs of the federal government for the fiscal year ended June 30, 2025. The information in this schedule is presented in accordance with requirements of the 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 the Authority, it is not intended to and does not present the financial position, changes in net position or cash flows of Saluda County Water and Sewer Authority.
The Authority expended a total of $31,355,948 in federal awards from July 1, 2024 through June 30, 2025. Of these expenditures, $31,093,273 were related to the USDA loan program. The outstanding balance for USDA revenue bonds related to the loan program was $85,711,408 as of June 30, 2025.