Notes to SEFA
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Town of Pike Road, Alabama (the Town) and is presented on the accrual basis of accounting. Under this basis of accounting, revenues are recognized when earned and expenses are recognized when the related liability is incurred. 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 (the Uniform Guidance). Therefore, some of the amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the financial statements.
The Town’s reporting entity is fully described in Note 1 to the financial statements.
The Town did not elect to charge a de minimus rate of 15% for all federal awards.
During fiscal year 2021 and 2022, the Town was awarded Coronavirus State and Local Fiscal Recovery Funds grant money from the Department of Treasury (Assistance Listing No. 21.027). This grant was created as the Federal government’s response to the COVID-19 pandemic. During fiscal year 2024, certain projects were started but no revenue was recognized as the Town had not determined what the grant funds would be used for. During fiscal year 2025, the Town determined that it would use all of the CSLFRF grant money for these certain projects. This means that $1,871,038 of expenditures were incurred in the prior year. These expenditures are included on the schedule of expenditures of federal awards for the year ended September 30, 2025.