Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the schedule) includes the federal award activity of the government 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 the 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 government, it is not intended to and does not present the financial position or changes in net position of the government.
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
In prior years, the government was approved by the U.S. Department of Agriculture to receive a loan totaling $1,724,000 to construct water and sewer infrastructure projects. The balance owing on these loans for the year ended June 30, 2025 is $1,073,101.
The government has elected not to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.
The estimated Fair Market Value (FMV) of donated PPE for the year ended June 30, 2025 was $0 (unaudited).