Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the Village under programs of the federal government for the year ended June 30, 2025. The information in this Schedule is presented in accordance with 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 Village, it is not intended to and does not present the financial position, change in net assets, or cash flows of the Village.
Of the federal expenditures presented in this Schedule, the Village did not provide any federal awards to subrecipients.
As of June 30, 2025, the Village had an outstanding loan balance of $520,918 in conjunction with the U.S. Environmental Protection Agency passed through the New Mexico Environment Department, loan/grant for upgrades to the Village’s water facilities.
Reconciliation of the total expenditures per the SEFA, capitalized as construction in progress to grant award & loan proceeds amount