Notes to SEFA
Title: LOAN AND LOAN GUARANTEE PROGRAMS OUTSTANDING BALANCES
Accounting Policies: 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 WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
WATER AND WASTE DISPOSAL SYSTEMS FOR RURAL COMMUNITIES-BALANCES OUTSTANDING AT THE END OF THE AUDIT PERIOD WERE 9927000.
Title: SUBRECIPIENT
Accounting Policies: 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 WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
OF THE FEDERAL EXPENDITURES PRESENTED IN THE SCHEDULE, THE CITY PROVIDED FEDERAL AWARDS TO ITS SUBRECIPIENT, LEITCHFIELD UTILITIES SYSTEM (A COMPONENT UNIT) AS FOLLOWS: WATER AND WASTE DISPOSAL SYSTEMS FOR RURAL COMMUNITIES CFDA 10.760 2,683,314.