Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Port Isabel, Texas (City), under federal government programs as of and for the year ended September 30, 2025. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) 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 City's operations, it is not intended to, and does not, present the City's financial position, changes in net position, or cash flows. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the financial statements.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized in accordance with the cost principles in the Uniform Guidance, which specify that certain types of expenditures are not allowable or are reimbursable only to a limited extent. Pass-through entity identifying numbers are presented where available
The City did not provide any federal awards to sub-recipients during the year.
The City had no outstanding loans or loan guarantee programs on September 30, 2025
The City has elected not to use the 10% De Minimus Indirect Cost Rate allowed under the Uniform Guidance.
Total expenditures of federal awards of $2,389,784 + general fund expenditures of $8,316,489 + general obligation bonds and certificates of $5,498,714 + debt services of $1,139,141 + non-federal minor special revenue funds of $2,736,315 = Statement of Revenues and Expenditures total of $20,080,443.