Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the Okeechobee Utility Authority (the Authority) under programs of the federal government 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 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 Authority, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Authority.
Loans Expenditures Interim Commercial Loan Guarantee Balance at beginning of year $5,430,487 New loan guarantees 1,594,432 $1,594,432 Amount repaid (7,024,919) Outstanding balance $- USDA Loan Balance at beginning of year $- New loan proceeds 7,508,000 7,508,000 Outstanding balance $7,508,000 $9,102,432
Amounts received or receivable from grantor agencies are subject to audit and adjustment by those agencies. Any disallowed claims, including amounts already received, might constitute a liability of the Authority for the return of those funds. In the opinion of management, all grant expenditures were in compliance with the terms of the grant agreements and applicable state laws and regulations.