The accompanying Schedule of expenditures of federal awards (the “Schedule”) includes the federal award activity of 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 (CFR) 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, it is not intended to and does not present the financial position or changes in net position.
Expenditures reported on the Schedule are reported on the modified accrual basis of accounting. 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. Negative amounts (if any) shown on the Schedule represent adjustments or credits made in the normal course of business to amounts reported as expenditures in prior years. Pass-through entity identifying numbers are presented where available. The City of Albion has elected to not use the 10- percent de minimis indirect cost rate allowed under the Uniform Guidance for awards executed on or before September 30, 2024 and also has elected not to use the 15-percent de minimis indirect cost rate allowed under Uniform Guidance for awards executed on or after October 1, 2024.
The following reconciles the federal revenues reported in the December 31, 2025 basic financial statements to the expenditures of the City administered federal programs reported on the Schedule of Expenditures of Federal Awards: Federal/State Revenue Reconciliation Federal Award Expenditures PRIMARY GOVERNMENT GENERAL FUND Other Programs $ 2,045,870 $ (2,045,870) $ - STREET IMPROVEMENT FUND Community Development Block Grant 144,369 - 144,369 Other Programs 5 0,745 (50,745) - TOTAL STREET IMPROVEMENT FUND 195,114 (50,745) 144,369 NONMAJOR GOVERNMENTAL FUNDS Community Development Block Grant 336,715 - 336,715 Other Funds 1,593,669 (1,593,669) - TOTAL NONMAJOR GOVERNMENTAL FUNDS 1,930,384 (1,593,669) 336,715 WATER FUND Other Funds 2,224,565 (2,224,565) - DWSRF Loan - 2,662,889 2,662,889 COVID-19 ARP Drinking Water Asset Management Grant 2 4,452 - 2 4,452 COVID-19 American Rescue Plan Act 5,984,145 - 5,984,145 TOTAL SEWER FUNDS 8,233,162 438,324 8,671,486 SEWER FUND Draws on Water and Waste Disposal Systems for Rural Communities - 3,773,300 3,773,300 COMPONENT UNITS Economic Development Corporation 1,284,805 (642,827) 641,978 TOTAL REPORTING ENTITY $ 1 3,689,335 $ (121,487) $ 1 3,567,848