Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal award activity of the Town of Essex, Vermont 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 Town, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Town of Essex, Vermont.
The Town of Essex, Vermont received financial assistance in the form of loans under the Drinking Water State Revolving LoanFund (DWSRF) program (AL# 66.468). The amount reported as federal expenditures in the Schedule represents the value of new loans made or received during the year. There are no continuing federal compliance requirements associated with these loans other than repayment, therefore, outstanding loan balances from prior years are not included in the Schedule or disclosed in these notes.