a. Basis of Presentation The accompanying schedule of expenditures of federal awards (Schedule) includes the federal award activity of the City of Saratoga Springs, New York (City) 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 the Comptroller General of the United States and the audit 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). The purpose of the Schedule is to present a summary of those activities of the City funded by the federal government or pass-through entities for the year ended December 31, 2025, using the accrual basis of accounting. For purposes of this Schedule, federal awards include assistance provided by a federal agency, directly or indirectly, in the form of grants, contracts, cooperative agreements, loans and loan guarantees, and other noncash assistance. Negative amounts, if any, on the Schedule represent adjustments or credits made to prior-year expenditures in the normal course of business. b. Relationship to Financial Statements Federal award revenues are reported in the City’s financial statements as federal aid. The City’s government-wide financial statements are presented using the accrual basis. The Schedule presents only a selected portion of the activities of the City. It is not intended to, and does not, present the financial position, statement of activities, or other changes in net assets of the City. c. Direct and Indirect Costs Expenditures for direct and indirect costs are recognized as incurred using the accrual method of accounting and in accordance with Office of Management and Budget Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, and the Uniform Guidance. Under these cost principles, certain types of expenditures are not allowable or are limited as to reimbursement. d. Matching Costs Matching costs represent the City’s share of certain program costs and are not included in the Schedule.
There were no federal awards expended in the form of noncash assistance by the City during the year ended December 31, 2025.
The City participates in the Community Development Revolving Loan Program and had $142,000 in economic development and rehabilitation loans to recipients outstanding at December 31, 2025.
The City did not participate in any federal insurance programs during the year ended December 31, 2025.
The de minimis indirect cost rate allows the City to allocate 10% of indirect costs to grants with periods ending on or prior to September 30, 2024 and 15% of indirect costs to grants with periods subsequent to September 30, 2024. The City has elected not to use the de minimis indirect cost rate allowed under the Uniform Guidance for grants with periods ending on, before or after September 30, 2024.