Notes to SEFA
The accompanying schedule of expenditures of federal awards (“SEFA”) includes the federal award activity of the Bayou Meto Regional Irrigation Water District (the “District”) under the programs of the federal government for the year ended June 30, 2025. The information in the SEFA 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 SEFA presents only a selected portion of the operations of the District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District.
As outlined in Note 8 - State and Local Fiscal Recovery Funds in the financial statements, the SEFA contains $1,782,132 of grant expenditures incurred in prior periods. Due to changes in regulatory guidance, these expenditures are recognized in the current period.