Notes to SEFA
The accompanying schedule of expenditures of federal awards is presented using modified accrual basis of accounting, which is described in Note I to the City’s basic financial statements.
Grant expenditure reports as of September 30, 2025, which have been submitted to grantor agencies will, in some cases, differ slightly from amounts disclosed herein. The reports prepared for grantor agencies are typically prepared at a later date and often reflect refined estimates of year-end accruals. The reports will agree at termination of the grant as the discrepancies noted are timing differences.
None of the federal programs expended by the City were passed through to subrecipients.
The City is indebted to the Texas Water Development Board (TWDB) as a result of issuance of Combination Tax and Revenue Certificates of Obligation, Series 2024B, and Combination Tax and Revenue Certificates of Obligation, Series 2024C. The bonds were sold to provide financing to construct improvements and extensions to the City’s wastewater collection system project. The amounts reflected in the Schedule of Expenditures of Federal Awards represent expenditures incurred during the year ended September 30, 2025. The balances for the 2024B and 2024C bonds are $2,110,000, and $2,790,000, respectively, at year end.