Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Piedmont, Alabama (the “City”) under programs of the federal government 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, Uniformed Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the City, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the City.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. The City did not elect to utilize the ten percent de minimis indirect cost rate allowed under the Uniform Guidance. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
The amounts shown as current year expenditures represent only the federal grant portion of the program costs. Entire program cost, including the city’s local matching share, may be more than shown. Such expenditures are recognized following, as applicable, either the cost principles in the OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, or the cost principles contained in Title 2 US Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, whereas certain types of expenditures are not allowable or limited to reimbursement. The following schedule shows both the federal and nonfederal expenditures (matching contributions from the City and / or the pass thru entity) for the grants: