Notes to SEFA
During fiscal year 2025, the City expended $215,760 under the Clean Water State Revolving Funds program (Assistance Listing Number 66.458). The City was approved for a total loan under this program of $9,112,143, of which $39,379 was drawn down during fiscal year 2025. The loan proceeds were recorded as a portion of long-term debt in the joint utility fund at June 30, 2025. The total outstanding loan under this program is $7,570,101 at June 30, 2025.
The following is a reconciliation of the expenditures reported in the schedule of expenditures of federal awards to the federal grants revenue reported in the governmental funds financial statements: Total expenditures of federal awards $ 1,577,723 Less: Expenditures funded by loan proceeds (215,760) Total federal grant revenues reported in the statement of revenues, expenditures, and changes in fund balance - governmental funds $ 1,361,963