Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of Monroe, Georgia and is presented on the 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. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of the financial statements. The City of Monroe participates in the Drinking Water State Revolving Fund loan program. At December 31, 2025, the outstanding loan balance was $1,525,741. The City has met the continuing compliance requirements of the loan agreement, and the loan is included in the Schedule of Expenditures of Federal Awards (SEFA). During the fiscal year ended December 31, 2025, the City received principal forgiveness in the amount of $869,583 under the Drinking Water State Revolving Fund program (Assistance Listing Number 66.468). This amount represents a loan subsidy and isincluded in the total federal expenditures reported on the face of the SEFA for the current fiscal year. The City participates in a Community Development Block Grant (CDBG) Revolving Loan Fund program passed through the Georgia Department of Community Affairs. For the year ended December 31, 2025, the total federal expenditures and outstanding loan balance administered under this revolving loan fund program amounted to $140,000. The City did not pass any federal awards through to subrecipients. The City did not utilize the 15% de minimis indirect cost rate permitted by the Uniform Guidance.