Notes to SEFA
Title: Basis of Accounting
Accounting Policies: Basis of Accounting: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost Principles of Non-profit Organizations and state regulations, wherein certain types of expenditures are not allowable or are limited as to reimbursement. SPRWDB has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance. Pass-through entity identifying numbers are presented where available. Revenue Reconciliation: Federal and state awards programs are reported in the SPRWDBs financial statements as follows: Public Support: Governmental Grants $25,557,919, Less: Non-Federal/State grants $0, Total Expenditures of Federal and State Awards $25,557,919.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying schedule of expenditures of federal and state awards (the Schedule) includes federal and state grant activity of SPRWDB under programs of the federal and state government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Texas Single Audit Circular. Because the Schedule presents only a selected portion of the operations of SPRWDB, it is not intended to and does not present the financial position, changes in net assets, or cash flows of SPRWDB