Notes to SEFA
The Gulf County, Florida (the "County") reporting entity is defined in Note 1 of the County's Basic Financial Statements.
The accompanying schedule of expenditures of federal awards and state financial assistance (the "Schedule") includes the federal award and state financial assistance activity of the County under programs of the federal and state governments for the year ended September 30, 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); and Chapter 10.550, Rules of the Auditor General. Because the Schedule presents only a selected portion of the operations of Gulf County, Florida, it is not intended to and does not present the financial position, changes in financial position, or cash flows of Gulf County, Florida.
The balance of loans outstanding at September 30, 2025, was $515,886 related to the Capitalization Grants for Drinking Water State Revolving Fund. This loan is a subaward and therefore neither 2 CFR sections 200.502(b) nor (d) apply when calculating the amount of federal funds expended.