Notes to SEFA
The accompanying Schedule of Expenditures of Federal and State awards includes the Federal and State grant activity of the Town under the programs of the federal government and the State of North Carolina for the year ended June 30, 2025. Because the Schedule presents only a selected portion of the operations of the Town of Murfreesboro, it is not intended to and does not present the financial position, changes in net position or cash flows of the Town of Murfreesboro.
The Town of Murfreesboro had the following loan balances outstanding at June 30, 2025. The loan amount spent during the year is included in the Schedule of Federal and State Awards in the state expenditures presented in the schedule. Balances and transactions related to these programs are included in the Town's basic financial statements. $500,000 of the total loan amount is to be forgiven at the completion of the project.