Notes to SEFA
Title: Loans Outstanding
Accounting Policies: Expenditures presented 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 City of Bath has not elected to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.
In addition to programs reported on the Schedule of Expenditures of Federal Awards, The City of Bath has federal loan programs outstanding as follows.: We have considered these outstanding loan balances in determining programs to be tested under Uniform Guidance.Loan Programs (Federal loan funds administered by City of Bath)CFDA Outstanding BalanceNumber Program Name June 30,202266.818 Brownfields Revolving Loan Fund $394,676
Title: Major Programs - Federal
Accounting Policies: Expenditures presented 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 City of Bath has not elected to use the 10 percent de minimus indirect cost rate as allowed under the Uniform Guidance.
The following programs were considered major programs as defined by the Uniform Guidance and also Type A programs as defined by the Uniform Guidance. These programs were tested due to the Agency being classified as low-risk as defined in the Uniform Guidance:Program CFDA #Community Development Block Grant 14.228Clean Water State Revolving Funds 66.458