Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (Schedule) presents the activity of all federal award programs of the City of Oxnard, California (City). The information in this Schedule is presented 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). The City’s reporting entity is defined in Note 1 in the notes to the City’s basic financial statements.
Expenditures reported in the accompanying Schedule are presented using the modified accrual basis of accounting for grants accounted for in the governmental fund types and the accrual basis of accounting for grants accounted for in the proprietary fund types, as described in Note 2 in the notes to the City’s basic financial statements. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where applicable. It does not include the Federal award activity of Oxnard Housing Authority, a blended component unit of the City, which expended $39,928,222 in federal awards.
The City has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance, which is ten (10) percent for awards issued prior to October 1, 2024 and fifteen (15) percent for awards issued on or after October 1, 2024.
Expenditures of federal awards are reported in the City’s basic financial statements as expenditures in the governmental funds or as expenses/capital assets in the proprietary funds. Federal award expenditures agree or can be reconciled with the amounts reported in the City’s basic financial statements.
Federal awards may be granted directly to the City by a federal granting agency or may be granted to other government agencies which pass through federal awards to the City. The Schedule includes both of these types of federal award programs when related expenditures are incurred.
The City administers loans, primarily forgivable loans, made from funds provided by the following Federal programs for the year ended June 30, 2025.