Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: This schedule was prepared using the same basis of accounting and the same significant accounting policies, as applicable, used for the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
CAPITALIZATION GRANTS FOR DRINKING WATER STATE REVOLVING FUNDS (66.468) - Balances outstanding at the end of the audit period were 964300.
Title: AMOUNT OF LOAN FUNDED AT DECEMBER 31, 2022
Accounting Policies: This schedule was prepared using the same basis of accounting and the same significant accounting policies, as applicable, used for the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
As of 12/31/2022, approved expenditure documentation for $2,266,923 has been submitted for funding under the program. As of December 31, 2022, $183,948 has been funded; $2,082,975 is due to be funded and is included in accounts payable in the financial statements.
Title: DONATIONS OF FEDERALLY FUNDED PERSONAL PROTECTIVE EQUIPMENT
Accounting Policies: This schedule was prepared using the same basis of accounting and the same significant accounting policies, as applicable, used for the financial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Leesburg Water Association, Inc. has received no donations of federally funded personal protective equipment.