Notes to SEFA
The accompanying schedules of expenditures of federal and state awards (the Schedules) includes the federal and state grant activity of the City of Beloit (the City) under programs of the federal and state government for the year ended December 31, 2025. The information in these Schedules are 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 the State Single Audit Guidelines. Because the Schedules present 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 position or cash flows of the City. The reporting entity for the City is based upon criteria established by the Governmental Accounting Standards Board. The City is the primary government according to GASB criteria, while the Beloit Community Development Authority (CDA) is a component unit. Federal and state awards received directly by the CDA are included in this report.
The following identifies the pass-through agency acronyms used on the schedule of expenditures of federal awards: C/ Janesville City of Janesville, Wisconsin WI DOT Wisconsin Department of Transportation WI DOA Wisconsin Department of Administration WI DOJ Wisconsin Department of Justice IL DOT Illinois Department of Transportation WI DOM Wisconsin Department of Military Affairs