Notes to SEFA
The Schedule of Expenditures of Federal Awards (the "Schedule") includes the federal award activity of the City of Marathon, Florida (the "City"). 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, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City.
Expenditures reported on the schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, as well as other applicable provisions of contracts and grant agreements, wherein certain types of expenditures are not allowable or are limited as to reimbursements, as applicable.
The City chose not to use the allowable de minimis cost rate for the fiscal year ended September 30, 2025.
The City did not pass federal expenditures to subrecipients during the fiscal year ended September 30, 2025.