Notes to SEFA
This schedule includes the federal grant activity of the City of Hugo, Oklahoma (“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 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, changes
in net position or cash flows of the City
Expenditures reported on the Schedule of Expenditures of Federal Awards are reported on the accrual basis of accounting
(U.S. GAAP) which may be different from other information contained in the City’s financial statements