Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Town of Worcester, Vermont under programs of the federal government for the year ended December 31, 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). Because the Schedule presents only a selected portion of the operations of the Town of Worcester, Vermont, it is not intended to and does not present the financial position, changes in net position or cash flows.
Included in the Schedule of Expenditures of Federal Awards is $1,528,224 in expenditures for the FEMA Public Assistance Program (ALN 97.036) that were incurred in the prior year. These costs were reported in the current year Schedule of Expenditures of Federal Awards due to the timing of formal project obligation and approval by FEMA.