Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of City of Sandy, Oregon (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 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 postion, changes in net assets 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 the cost principles contained in the Uniform Guidance, 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 has elected not to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance.
There wer no amounts paid to subrecipients by the City from federal funds for the year ended June 30, 2025.
For the WIFIA Loan Program, the following table reflects its activity during the fiscal year. Beginning July 1, 2024 - $0 balance, plus draws received during the year $2,940,176, equals total amount subject to reporting on the Schedule of Expenditures of Federal Rewards - $2,940,176. Repayments made during the year equals zero. Therefore, the balance as of June 30, 2025 equals $2,940,176.