Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards presents the expenditure activity of all federal award programs of the Topaz Ranch Estates General Improvement District (the District) for the year ended June 30, 2025. The District’s reporting entity is defined in Note 1 to its basic financial statements. All expenditures of federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the Schedule of Expenditures of Federal Awards.
The accompanying Schedule of Expenditures of Federal Awards is prepared on the accrual basis of accounting.
The District’s indirect cost rate for the year ended June 30, 2025 was 0%.