Notes to SEFA
The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the City of Perry, Missouri (the City) under programs of the federal government for the year ended April 30, 2025. 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 the City, it is not intended to and does not present the financial position, change in net position or cash flows of the City.
Expenditures reported on the Schedule are reported using the modified cash basis of accounting which is described in Note A to the City's financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Amounts reported in the schedule of expenditures of federal awards agree with the amounts reported in the related federal financial reports.
The City elected not to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
During the year ended April 30, 2025, the City did not receive any non-monetary assistance.
The City of Perry, Missouri, did not have pass-thru recipients during the fiscal year ended April 30, 2025.
At April 30, 2025, the City had federal loans or loan guarantees of $2,644,790.
As of and for the year ended April 30, 2025, the City had no federal insurance in effect.