Notes to SEFA
The accompanying schedule of expenditures of federal awards (schedule) includes the federal award activity of the City of Youngsville (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 accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the City’s basic financial statements for the year ended June 30, 2025. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The City has elected not to use the 10 percent de minimis indirect cost rate allowed under Uniform Guidance.
During the fiscal year, the City identified approximately $284,609 of federal expenditures that were not reported on the schedule of expenditures of federal awards during the fiscal year ended June 30, 2024. The omission of the eligible expenditures in the prior fiscal year would not have impacted the testing performed or the programs identified as major federal programs in that fiscal year.