The City of St. Joseph, Missouri (the City), is the recipient of several federal awards. All federal expenditures from awards received directly from federal agencies as well as those awards that are passed through other government agencies are included on the Schedule of Expenditures of Federal Awards.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of 2 CFR 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 City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognized following, as applicable, 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. Negative amounts shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. The City did not elect to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Local cost sharing, as defined by Title 2 CFR Part 200, Subpart D, Section 200.306 is required by certain federal grants. The amount of cost sharing varies with each program. Only the federal share of expenditures is presented in the Schedule.
Grantor agencies reserve the right to conduct additional audits of the City’s grant programs for economy and efficiency and program results that may result in disallowed costs to the. However, management does not believe such audits would result in any disallowed costs that would be material to the City’s financial position at June 30, 2025.
The City administers two revolving loan programs with federal funds. These programs, along with their respective outstanding balances at June 30, 2025, are as follows: The City also has outstanding loans through the Clean Water Direct Loan Program from the Missouri Department of Natural Resources, as a pass-through agency for the Environmental Protection Agency (CFDA #66.458). As of June 30, 2025, the outstanding loan payable balances were $7,331,800 Series 2013, $33,644,000 Series 2014, $17,143,000 Series 2014A, and $48,673,000 Series 2017. The Clean Water Direct Loan Program does not have a continuing compliance requirement after the initial year of the loan.