Notes to SEFA
The accompanying schedule of expenditures of federal awards (the “schedule”) includes the federal grant activity of Barren River Area Development District (the “District”) 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 (CFR) 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, it is not intended to and does not present the financial position, changes in net position or cash flows of the District.
The balance of loans outstanding at June 30, 2025 was $83,015, ALN No. 11.307, Revolving loan fund (RLF CARES).
Grant monies received and disbursed by the District are for specific purposes and are subject to review by grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon experience, the District does not believe that such disallowance, if any, would have a material effect on the financial position of the District.
The District did provide federal funds to subrecipients for the fiscal year June 30, 2025 as noted in the accompanying Schedule of Expenditures of Federal Awards.