Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of the City of Boise, Idaho (the City) under programs of the federal government for the year ended September 30, 2025. The information on this Schedule is prepared in accordance with the requirements of 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 City, it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows of the City and is presented as supplemental information within the City’s annual comprehensive financial report for the year ended September 30, 2025.
The City passed through certain federal awards to other non-Federal entities, as subrecipients, to carry out part of a federal program. Expenditures are recorded when awards are disbursed to subrecipients. The City is responsible for monitoring its subrecipients to ensure these subawards are used to fulfill the program requirements in accordance with contracts, laws, regulations and that the subrecipients meet program goals. Expenditures made to subrecipients are separately disclosed on the Schedule.
The City has revolving loan fund programs which were originally funded with federal financial assistance through the Community Development Block Grants/Entitlement Grants Cluster (FFAL Number 14.218). Under these loan agreements, the City has either loaned money to eligible homeowners to rehabilitate their homes or to eligible homebuyers to obtain affordable housing, in the form of a low-interest loan with a 1st or 2nd Deed of Trust. New loans originated from the revolving loan fund programs are subject to the same compliance requirements imposed by the Federal Department of Housing and Urban Development (HUD) as the initial loans. The loans under this program have no continuing compliance requirements other than continued loan payments, therefore, the outstanding loan balances of such loans have not been included in the Schedule and major program determination. The outstanding balance on these loans at September 30, 2025 was $1,460.
Expenditures reported under the Water Infrastructure Finance and Innovation program in the schedule consist of the beginning of the year outstanding loan balance plus advances made on the loan during the year. The outstanding balance at September 30, 2025 was $57,557.
Certain Federal programs require the City to contribute non-Federal funds (matching funds) to support the Federally-funded programs. The City has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.