Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards and State Financial Assistance (the “Schedule”) presents the activity of all federal awards and states projects of the City of Bonita Springs, Florida (the “City”) for the year ended September 30, 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”) and Chapter 10.550, Rules of the Auditor General ("Chapter 10.550"). Because the Schedule presents only a selected portion of the operations of the City, the schedule is not intended to and does not present the financial position, changes in net position, or cash flows of the City. The City’s reporting entity is defined in Note 1 to the City’s basic financial statements for the fiscal year ended September 30, 2025. All federal award programs and state projects received directly from federal and state agencies, as well as federal award programs and state projects passed through other government agencies, are included in the schedule.
The Schedule is presented using the modified accrual basis of accounting, which is described in Note 1 to the City’s basic financial statements for the fiscal year ended September 30, 2025. The City did not utilize the 15-percent de minimis indirect cost rate as covered in 2 CFR 200.414 (f) Indirect Costs.
Grant monies received by the City are for specific purposes and are subject to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed expenditures. Based upon prior experience, the City does not believe that such disallowances, if any, would have a material effect on the financial position of the City. As of September 30, 2025, there were no material questioned or disallowed costs as a result of grant audits in process or completed of which management was aware. Any adjustments to grant funding are recorded in the year the adjustment occurs.
The City did not pass through Federal awards or State financial assistance to subrecipients during the fiscal year ended September 30, 2025.