Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Town of East Montpelier, Vermont 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 Town of East Montpelier, Vermont, it is not intended to and does not present the financial position, changes in net position or cash flows.
The Town received $1,268,474 in FEMA funds in fiscal year 2025. Of this amounts, $518,069 did not meet both criteria of being approved and spent before June 30, 2025 resulting in $750,405 of FEMA expenditures being reported.