Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the District and Corporation 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 District and Corporation, it is not intended to and does not present the financial position or changes in net position of the District or Corporation.
The federal loan programs listed subsequently are administered directly by the Corporation, and balances and transactions relating to these programs are included in the Corporation’s basic financial statements. Loans outstanding at the beginning of the year, loans made during the year, and other required components are included in the federal expenditures presented in the Schedule. See the Notes to the SEFA for chart/table.
The District, acting through the Corporation, operates a revolving loan program and a business development loan program with federal grant funding. See the Notes to the SEFA for chart/table.