Notes to SEFA
The accompanying schedule of expenditures of federal and State awards (SEFSA) includes the federal and State grant activity of Town of Benson, North Carolina under the programs of the federal government and the State of North Carolina for the year ended June 30, 2025. The information in this SEFSA is presented in accordance with the requirements of Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and the State Single Audit Implementation Act. Because the Schedule presents only a selected portion of the operations of the Town, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Town.
The Town of Benson had the following loan balances at June 30, 2025 for loans that the grantor/pass-through grantor has still imposed continuing compliance requirements. Loans outstanding at the beginning of they year and loans made during the year are included in the SEFSA. The balance of loans outstanding at June 30, 2025 consist of: