Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal award programs of Cazenovia Recovery Systems, Inc. and Subsidiaries (the Organization). The Schedule includes expenditures of federal programs received directly from federal agencies as well as federal assistance passed through other organizations.
The Schedule includes the federal award activity of the Organization under programs of the federal government for the year ended December 31, 2025. The information in the 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). Because the Schedule presents only a selected portion of the operations of the Organization, it is not intended and does not present the financial position, change in net assets, or cash flows of the Organization.
The Organization has an $880,000 outstanding loan at December 31, 2025, which is the original loan amount dated November 2009 for which payment is due November 1, 2039, under which there are continuing compliance requirements.