Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Malden, Massachusetts (the City) 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 City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City.
The City receives non-cash commodities from the U.S. Department of Agriculture as a part of the National School Lunch program. The amounts reported as non-cash assistance represent the fair market value of these commodities received during the year. The amounts reported as cash assistance represent federal reimbursements for meals provided.
Total expenditures in the accompanying Schedule for the HOME Investment Partnership Program (ALN 14.239) include the unpaid principal balance from July 1, 2024 from loans that are subject to continuing compliance requirements, as well as the total of all new loans made during the fiscal year. At June 30, 2025, the ending balance of the City’s HOME Investment Partnership Program loans receivable was $43,574,197.
At June 30, 2025, the ending balance of the City’s CDBG Section 108 Loan Guarantees payable was $2,647,000.