Notes to SEFA
The accompanying schedule of expenditures of federal awards (SEFA) incudes federal awards activity of the City of La Pine (City) under programs of the federal government for the year ended June 30, 2025. The information presented in this schedule is presented in accordance with the requirements of Title 2 US 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 SEFA are reported as federal loan proceeds are disbursed. For expenditures related to grant revenue, expenditures on the SEFA are reported in the year in which they are incurred. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or limited as to reimbursement.
The City has elected to use the 10 percent de minimis indirect cost rate allowed under the Uniform Guidance.
The balance of federal loans as of June 30, 2025 was $21,912,443.