Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the federal award activity of the Town of Moriah, New York (the Town), for the year ended December 31, 2025. Federal awards may be received directly from federal agencies or indirectly through pass-through entities. The information in the 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, it is not intended to and does not present the financial position or changes in financial position of the Town.
Expenditures reported in the Schedule are presented using the modified accrual basis of accounting, except where federal program requirements specify a different basis for determining federal awards expended. The amounts reported as federal expenditures were determined from the Town's accounting records, grant records, and applicable reports submitted to federal agencies and pass-through entities. These records are reconciled to the Town's financial reporting system. Accordingly, certain amounts reported in the Schedule may differ from amounts reported in or used in preparing the Town's financial statements.
The Town is an independent municipal corporation. All Federal grant operations of the Town are included in the scope of the single audit.
The Town did not receive any noncash federal assistance during the year ended December 31, 2025.
The Town elected to use the 10 percent de minimis indirect cost rate permitted under 2 CFR 200.414. Indirect costs are included in the expenditures reported in the accompanying Schedule to the extent they were charged to the applicable federal award programs.
The accompanying Schedule includes $672,763 in expenditures under the FEMA Disaster Grants – Public Assistance Program (ALN 97.036) that were incurred during fiscal year 2024 but for which the related projects were approved and obligated by FEMA during fiscal year 2025. These expenditures are reported in the fiscal year 2025 Schedule because FEMA guidance provides that expenditures are reported when FEMA has approved the project and the nonfederal entity has incurred the eligible expenditures.
Equipment acquired with federal award funds is covered under the Town's casualty insurance policies on the same basis as other Town-owned equipment.