Notes to SEFA
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 financial statements. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Of the federal expenditures presented in the schedule, the City provided no federal awards to subrecipients.
The City did not receive any non-cash assistance during the fiscal year ended September 30, 2025.
At year-end, the City had no loans or loan guarantees outstanding with federal awarding agencies.