Notes to SEFA
This schedule includes the federal and state grant activity of the Town of Longboat Key, Florida, for the fiscal year ended September 30, 2025, and is presented using the modified accrual basis of accounting. 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 and Chapter 10.550, Rules of the Auditor General. Therefore, some amounts presented in this schedule may differ from amounts in, or used in the preparation of the basic financial statements.
The Town chose not to use the allowable de minimis indirect cost rate for the year ended September 30, 2025.
The Town did not receive noncash federal awards during the year ended September 30, 2025.