Notes to SEFA
The Schedule of Expenditures of Federal Awards contains federal grant activity of the Town of Bernalillo was prepared was prepared using the modified accrual basis of accounting. The information in the schedule is presented in accordance with the requirements of Title 2 US Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
The Town did not receive any federal awards in the form of noncash assistance during the year.
There are no subrecipients of federal funds as of and for the year ended June 30, 2025.
The Town has elected to utilize the 15% minimum indirect cost rate when applicable.
The Town did not expend federal awards related to loans or loan guarantees for the year ended June 30, 2025.
See the Notes to the SEFA for chart/table