Notes to SEFA
The accompanying schedule of expenditures of federal awards (SEFA) include the federal loan and grant activity of the Board of Water and Sewer Commissioners of the City of Mobile, Alabama (the Board) under programs of the federal government for the year ended December 31, 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). Therefore, some of the amounts presented in this schedule may differ from the amounts presented in, or used in the preparation of, the financial statements. Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expenditures are recognized following the cost prinicples contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The Board's reporting entity is fully described in Note 1 to the financial statements.
The Board has elected not to use the 15 percent de minimis indirect cost rate allowed under Uniform Guidance.
There were no awards passed through to subrecipients.