Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal award activity of City of Ithaca (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 (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 City, it is not intended to and does not present its financial position or changes in net position of the City.
Federal expenditures are reported as revenues in the following funds in the financial statements of the City: Fund Amount Grant Projects Fund 137,435 Water Fund 1,181,276 Total federal revenues per financial statements 1,318,711Add: Loan balance as of June 30, 2025 1,103,816 Total Federal awards subject to single audit act 2,422,527