Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual basis of accounting, which is described in Note 1 to the City's financial statements for the year ended June 30, 2025. The infromation in the schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regualtions (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance)
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the City's portion, exceed what is presented. Such expensitures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Because the schedule only presents a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City. Some amounts presented in this Scedule may differ from amounts presented in, or used in the preparation of the basic financial statements.
Certain Federal programs require the City to contribute non-Federal funds (matching funds) to support the Federally-funded programs. The City has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.