Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of the Consorcio del Sur para la Administración de los Fondos de Reconstrucción y Reparación de los Terremotos (CONSUR) for the fiscal year ended June 30, 2025. The information in this Schedule is presented in accordance with the requirements of 2 CFR 200, Subpart F – Audit Requirements. Because the Schedule presents only a selected portion of the operations of CONSUR, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Consortium.
Expenditure Recognition Expenditures reported on the Schedule are recognized on the modified accrual basis of accounting. Expenditures are recognized when the related liability is incurred, except for reimbursement-based grants, which are recognized when all eligibility requirements have been met. Federal Pass-Through Awards CONSUR receives funding passed through from the Puerto Rico Department of Housing, which administers programs funded by the U.S. Department of Housing and Urban Development (HUD). Pass-through identigying numbers are presented as provided by the pass-through entity. Catalog of Federal Domestic Assistance (CFDA) The CFDA (Assistance Listing) numbers and grant identifiers included in the Schedule were assigned by the federal agency or pass-through agency.
CONSUR participates in the CDBG-DR program funded by HUD and passed through by the Puerto Rico Department of Housing. Expenditures relate to activities authorized under Public Law funding allocations for disaster recovery related to seismic events. Grant award numbers included in the accompanying Schedule (e.g., B-19-DF-72-0001, B-21-DZ-72-0001) reflect the specific authorizations under which the Consortium incurred allowable costs.
CONSUR did not elect to use the 10% de minimis indirect cost rate as permitted by 2 CFR 200.414(f). Indirect costs, if any, are charged in accordance with approved cost allocation methodologies or are not charged to federal programs.
For the fiscal year ended June 30, 2025, the Consortium did not provide federal awards to subrecipients under the CDBG-DR program.
Expenditures reported in the Schedule are included within the Consortium’s governmental fund financial statements and are subject to the accounting and reporting requirements of the Governmental Accounting Standards Board (GASB). Amounts presented in the Schedule may differ from amounts reported in the financial statements due to differences in reporting methodologies or timing.