The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal award activity of Iosco County under programs of the federal government for the year ended December 31, 2025. The information in this 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 Iosco County, it is not intended to and does not present the financial position, changes in net position, or cash flows of Iosco County.
Federal revenue presented in the financial statements: Medical Care Facility Fund $459,207 Governmental Funds 1,716,898 2,176,105 Amounts due from the State of Michigan that will be recognized as revenue for the year ended December 31, 2026 because they are considered unavailable in the governmental funds. #14.228 CDBG - CHILL 29,938 #14.228 CDBG - Disaster Recovery 32,499 #21.027 MI-HOPE Program 79,077 #93.563 Child Support Enforcement 32,561 #97.042 Emergency Management Performance Grants 2,890 Amounts paid from the State of Michigan that were recognized as revenue for the year ended December 31, 2025 because they were considered unavailable in the governmental funds for the year ended December 31, 2024 #16.607 Bulletproof Vest Partnership Program (518) #21.027 MI-HOPE Program (66,718) #93.563 Child Support Enforcement (48,671) #97.042 Emergency Management Performance Grants (3,881) #97.067 State Homeland Security Grant Program (12,200) #97.067 Homeland Security Grant Program, Operation Stonegarden (1,973) Loans receivable for the year ended December 31, 2025 not recognized as federal revenue but recognized as federal award expenditures. #10.769 Rural Business Enterprise Fund Grant 10,088 Revolving Loan Fund Capital Base #11.307 CARES Act Revolving Loan Fund Supplemental Disaster Recovery and Resiliency Award 1,738,533 Loan disbursements, write-offs, and administrative expenses made for the year ended December 31, 2025 not recognized as federal revenue, but recognized as federal award expenditures. #11.307 CARES Act Revolving Loan Fund Supplemental Disaster Recovery and Resiliency Award $18,974 Cash balances and administrative expenses in revolving loan funds required to be included in the Schedule of Expenditures of Federal Awards per the compliance supplements but, not included as federal revenue in the financial statements. #10.769 Rural Business Enterprise Fund Grant 41,856 Loan repayments, loans disbursed by subrecipients, and interest revenue in revolving loan funds recognized as mortgage repayment and interest revenue but required to be reported on the Schedule of Expenditures of Federal Awards. #14.228 CDBG Revolving Loan Fund passed through the Michigan Economic Development Corporation 106,678 Medical Care Facility Fund Federal revenue per the financial statements not required to be included on the Schedule of Expenditures of Federal Awards per Michigan Department of Health and Human Services and the U.S. Department of Health and Human Services guidance (459,207) Federal Awards passed through the County to other local units of government required to be included on the Schedule of Expenditures of Federal Awards but not recognized as revenue to the County. #10.665 Schools & Roads - Grants to States Oil/Gas Royalties 1,215 #10.665 Schools & Roads - Grants to States National Forest Revenue 95,105 Federal revenue expended per the Schedule of Expenditures of Federal Awards $3,772,351 4. Calculation of the amount on the Schedule of Expenditures of Federal Awards for #11.307 Economic Development Administration - CARES Act Revolving Loan Fund Supplemental Disaster Recovery and Resiliency Award Balance of the loans outstanding at December 31, 2025 $1,556,706 Cash and investment balance at December 31, 2025 181,827 Administration expenses 18,974 Unpaid principal of loans written off during the year 0 Total 1,757,507 Federal participation rate 100%
Balance of the loans outstanding at December 31, 2025 $1,556,706 Cash and investment balance at December 31, 2025 181,827 Administration expenses 18,974 Unpaid principal of loans written off during the year 0 Total 1,757,507 Federal participation rate 100%