Notes to SEFA
The amounts reflected in the financial reports submitted to the awarding federal and/or pass-through agency and the Schedule may differ. Some of the factors that may account for any difference include the following: · The District’s fiscal year end may differ from the program’s year end. · Accruals recognized in the schedule because of year end procedures, may not be reported in the program financial reports until the next program reporting period. · Fixed asset purchases and the resultant depreciation charges are recognized as property and equipment, net in the District’s government-wide financial statements and as expenditures in the program financial reports.
Grant monies received and disbursed by the District 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 experience, the District does not believe that such disallowance, if any, would have a material effect on the financial position of the District. As of September 30, 2025, there were no known material questioned or disallowed costs as a result of grant audits in process or completed.
The District did not receive any federal noncash assistance for the fiscal year ended September 30, 2025.
The District did not provide federal funds to subrecipients for the fiscal year ended September 30, 2025.
With the Exception of the District’s State Project CSFA 55.020 - State Infrastructure Bank (SIB), the District did not have any loans or loan guarantee programs required to be reported on the Schedule. There were no federal funded loans or loan guarantees.
The District did not have any federally funded insurance required to be reported on the Schedule for the fiscal year ending September 30, 2025.
The District incurred $1,372,384 of federal expenses in 2023 and $1,509,813 of federal expenses in 2024 that are reported on the schedule for the year ending September 30, 2025. These expenses were incurred prior to the District’s project worksheets being approved for reimbursement by FEMA in fiscal year 2025.