The accompanying Schedule of Expenditures of Federal Awards and the Schedule of State Financial Assistance (the 'Schedule´) includes the federal and state activity of Charlotte County, Florida (the "County"). The County reporting entity is defined in Note 1 to the County's Basic Financial Statements for the fiscal year ended September 30, 2025. All federal financial assistance programs received directly from federal agencies, as well as federal financial assistance programs passed through other government agencies, are included in the schedule. The Schedule is presented in accordance with uniform guidance.
Grant monies received by the County are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, the County does not believe that such disallowances, if any, would have a material effect on the financial position of the County. As of September 30, 2025, there was no material questioned or disallowed costs as a result of grant audits in process or completed of which management was aware. Any adjustments to grant funding are recorded in the year the adjustment occurs. Subsequent to year end, significant funding cuts have been implemented by the US government. It is unclear at this time what impact, if any, these actions may have on the County.
After a presidentially declared disaster, Federal Emergency Management Agency ("FEMA") provides Disaster Grants - Public Assistance (Presidentially Declared Disasters) (Assistance Listing #97.036) to reimburse eligible costs associated with repair, replacement or restoration of disaster-damaged facilities. The federal government makes reimbursements in the form of cost-shared grants that require state matching funds. Charlotte County was impacted by hurricane events during years 2021 through 2024. These hurricanes were presidentially declared disasters and resulted in various amounts of damage. Charlotte County reports FEMA eligible expenditures for the fiscal year ending September 30, 2025 to amount to $36,080,528, which already received FEMA's approval for reimbursement.
During the year ended September 30, 2025 the County commenced remediation work on water management facilities according to the grant agreement awarded by the US Department of Agriculture, Natural Resources Conservation Service, based on Assistance Listing Number 10.923. The Federal funds assigned to the Project currently amount to $20,801,450, with eligible expenditures during the fiscal year 2025 in the amount of $4,572,218.
American Rescue Plan Act of 2021 (ARPA) was adopted in March 2021. Section 9901 of the Act authorizes Coronavirus State and Local Fiscal Recovery Funds (CSLFRF), funding a variety of local projects in response to the health emergency under Assistance Listing #21.027. During the fiscal year ended September 30, 2025 Charlotte County expended $2,116,148 of CSLFRF funds according to the funding agreement with the Department of the Treasury.