Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of Owensboro, Kentucky under programs of the federal government for the fiscal year ended June 30, 2025. This informiaton in this Schedule is presented in accordance with the requirements of Title 2 U.S> Code of Federal Regulations Part 200, Uniform Admistrative Requirement, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selcted portion of the operations of the City of OWensboro, Kentucky, it is not intended to be and does not present the financial position, changes in net position, or cash flows of the City of Owensboro, Kentucky
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. Such expenditures are recognize following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement
The City of Owensboro, Kentucky has elected not to use the 10% deminimus rate allowed under the Uniform Guidance
There were no federa funds passed through to subreceipients