Notes to SEFA
The accompanying Schedule includes amounts passed through to subrecipients. The total pass-through amounts provided to subrecipients was $404,470.
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 Town’s casualty insurance policies. There were no loans or loan guarantees outstanding at year end.
The Community Development Block Grant reported federal expenditures on the Schedule of Expenditures of Federal Awards includes $39,898 of expenditures funded with program income.
The Schedule of Expenditures of Federal Awards presents the federal expenditures of Town of Oyster Bay for the year ended December 31, 2025. During the audit, it was noted that, in addition to the above, there are immaterial differences between the SEFA and the audited financial statements totaling $35,765.