Notes to SEFA
The Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of the Commission under programs of the federal government for the year ended June 30, 2025. The information in this schedule is presented in accordance with 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 Commission, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Commission.
The Commission received grant funds, from the Federal Government, for construction projects, operating, and debt service expenditures. Expenditures from these grants are subject to audit by the grantor, and the Commission is contingently liable to refund amounts received in excess of allowable expenditures. In the opinion of the management of the Commission, no material refunds will be required as a result of expenditures disallowed by the grantors.
No awards were passed through to subrecipients.