Notes to SEFA
Matching costs, such as the City's share of certain program costs, are not included in the reported expenditures.
The City operates a revolving loan program utilizing federal financial assistance received under current and prior Community Development Block Grants (CDBG) and prior Home Investment Partnership Programs (HOME). Loans outstanding at December 31, 2025 under these programs, reported as part of loans receivable in the City's basic financial statements, are as follows: Loans Receivable - CDBG $ 1,328,799 Loans Receivable - AHC 174,857 Loans Receivable - HOME 891,093 Total Loans Receivable 2,394,749 Less: Allowance for Uncollectible Accounts - Net Loans Receivable $ 2,394,749
No insurance is carried specifically to cover equipment purchased with federal funds. Any equipment purchased with federal funds has only a nominal value and is covered by the City’s casualty insurance policies. There were no loans or loan guarantees outstanding at year end.