The information in the SEFA is presented in accordance with the requirements of 2 CFR Part 200, OMB's Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the SEFA may differ from the amounts presented in, or used in the preparation of the financial statements.
The determination of when an award is expended is based on when the activity related to the award occurred.
For the current year, the City did not pass federal funds through to subrecipients.
The City participates in the U.S. Department of Agriculture Community Facilities Loan Program (Assistance Listing 10.766). The outstanding principal balance of this loan was $982,952 at January 1, 2025. During the year ended December 31, 2025, the City did not receive any additional loan proceeds; however, it repaid principal of $110,087. Principal repayments are not reported as federal expenditures under the Uniform Guidance, but they do reduce the amount outstanding. As a result, the outstanding principal balance at December 31, 2025 was $872,865. Because there were no new loan advances or interest subsidies during the year, no expenditures are reported for this program in the Schedule of Expenditures of Federal Awards.
The City reported $1,040,630 of FEMA Public Assistance expenditures under Assistance Listing 97.036, Disaster Grants – Public Assistance, for the year ended December 31, 2025. The underlying costs were incurred during 2024 in response to Hurricane Helene, primarily for electric power restoration and debris cleanup. At December 31, 2024, management did not know what costs, if any, FEMA would approve for reimbursement. During 2025, FEMA reimbursement/payment documentation became available, and the federal reimbursement amount became known, measurable, and supported. Accordingly, the FEMA Public Assistance amount was reported in the 2025 SEFA.