Notes to SEFA
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of the City of Fountain, Colorado (the 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Administrative Requirements for Federal Awards (the 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 financial position, or cash flows of the City.
Subsequent to the issuance of the City’s December 31, 2025 Single Audit report dated September 8, 2026, management determined that certain federal awards were inadvertently omitted from the Schedule of Expenditures of Federal Awards (SEFA). The SEFA has been restated to include the following additional federal expenditures: Total federal expenditures increased by $3,235,608, changing the total federal expenditures from $1,320,533 to $4,556,141. Management has evaluated the impact of these additional federal expenditures and determined that they did not alter the Type A and Type B major program thresholds, nor did they change the major program determinations previously established for the December 31, 2025 Single Audit. The Auditor’s Report on Compliance for Each Major Federal Program and Report on Internal Controls Over Compliance has been dual-dated as of September 24, 2026 to reflect the audit procedures performed solely in relation to this correction.