Notes to SEFA
Of the federal expenditures and state financial assistance presented in the schedule, the City of Largo, Florida provided federal and state awards to sub-recipients as follows: "See the Notes to the SEFA for chart/table".
Federal and state financial assistance revenue is included in the City's basic financial statements as follows: "See the Notes to the SEFA for chart/table".
The City had the following loan balances including loan service fees outstanding at September 30, 2025. The current year additions related to the loans are included in the Schedule of Federal Awards and State Financial Assistance. "See the Notes to the SEFA for chart/table".
The City received $0 in noncash assistance during the year ended September 30, 2025.
The City entered into a funding agreement with the U.S. Department of the Treasury to receive federal assistance from Coronavirus State and Local Fiscal Recovery Funds. Eligible items for use of the grant funds include replacing lost public sector revenue, response to far-reaching public health and negative economic impacts of the pandemic, provide premium pay for essential workers and investment in water, sewer and broadband infrastructure. The City received a total amount of $12,960,041 in recovery funds.
The City entered into a funding agreement with the U.S. Department of the Homeland Security to receive federal assistance to reimburse eligible costs associated with debris removal, emergency protective measures, and repair, restoration, reconstruction and replacement of public facilities and infrastructure. The federal government makes reimbursements in the form of cost-shared grants that require state matching funds. In FY2025, the City received reimbursement for $371,816 in eligible expenditures under ALN# 97.036 and $3,778 under CSFA# 31.063 that were incurred in prior years.