Notes to SEFA
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) presents the activity of all federal award programs of the City of Wooster (the City) under programs of the federal government for the year ended December 31, 2025. The information on this Schedule is prepared 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 City, it is not intended to and does not present the financial position, changes in net position, or cash flows of the City.
The accompanying schedule is presented using the cash basis of accounting in which expenditures are recognized when paid.
The City has not elected to use the 10-percent (or 15-percent, if applicable) de minimus indirect cost rates to recover indirect costs as allowed under the Uniform Guidance.
The current balance on the City’s local program income account as of December 31, 2025 is $99,827.
Certain federal programs require that the City contribute non-federal funds (matching funds) to support the federally funded programs. The City has complied with the matching requirements. The expenditure of non-federal matching funds is not included on the accompanying Schedule.