Notes to SEFA
Title: Note 2 - Non-Cash Federal Assistance
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant expenditure activity for the financial statements of the organization. The schedule is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
No non-cash federal assistance was received during the year ended June 30, 2022.
Title: Note 3 - Loan and Loan Guarantees
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant expenditure activity for the financial statements of the organization. The schedule is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of Uniform Guidance.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The federal loan program listed subsequently is administered by the County, and balances and transactions relating to this program is included in the County's basic financial statements. New federally funded loans provided under these programs are included as expenditures in the Schedule of Expenditures of Federal Awards. The following table shows the balance of loans outstanding as of June 30, 2022. Federal Grantor/Program Title AL Number Loan Number June 30, 2022Clean Water State Revolving Loan Funds66.458 Loan #1438047 $ 1,876,125