Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of the Public Utilities Board and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for Federal Awards (“Uniform Guidance”). Some amounts presented in this schedule may differ from amounts presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a selected portion of the operations of the Public Utilities Board, it is not intended to and does not represent the financial position of the Public Utilities Board.
The Uniform Guidance allows an organization to elect a 15% de minimums indirect cost rate. For the year ended September 30, 2025, the Public Utilities Board did not elect to use this rate.
The Brownsville Public Utilities Board did not have any federal loans or loan guarantees outstanding during the year ended September 30, 2025.
The Brownsville Public Utilities Board did not have any sub-recipients during the year ended September 30, 2025.
The Public Utilities Board did not receive any noncash assistance or federally funded insurance during the year ended September 30, 2025.
Grant monies received and disbursed by the Public Utilities Board are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the Public Utilities Board does not believe that such disallowance, if any, would have a material effect on the financial position of the Public Utilities Board.