Notes to SEFA
The accompanying schedule of expenditures of federal awards (the schedule) includes the federal grant activity of Town of Yampa, Colorado (Town). The Town’s reporting entity is defined in Note 1 of the basic financial statements. All expenditure of federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the schedule.
This accompanying schedule of expenditures of federal awards has been prepared on 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 Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance).
There are no subrecipients.
The Town did not elected to use the 10 percent de minimis indirect cost rate for fiscal year 2024.
The City has federal loan under United States Environmental Protection Agency assistance listing number 66.458 Water Pollution Control Revolving Fund, which have continuing compliance requirements and are included in the schedule of federal awards. The loan balances as of December 31, 2024 for the loans included in the schedule of federal expenditures for the current year is $447,777.