Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all Federal financialassistance programs of Sussex County, Delaware (the County). The County's reporting entity is defined in NoteA of the notes to basic financial statements. Federal awards that are passed through other governmental agenciesare included on the schedule. Matching funds are excluded from the schedule and program income generatedfrom federal grants is classified as federal expenditures when spent.The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual and the modifiedaccrual basis of accounting, which are described in Note A of the notes to basic financial statements.Expenditures are recognized following the cost principles contained in the Uniform Guidance*, where certaintypes of expenditures are not allowed or are limited as to reimbursement. Therefore, some amounts presented inthis schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.*Such expenditures are recognized following, as applicable, the cost principles contained in Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirementsfor Federal Awards, wherein certain types of expenditures are not allowed 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 (10.760) - Balances outstanding at the end of the audit period were 3,527,112. CAPITALIZATION GRANTS FOR CLEAN WATER STATE REVOLVING FUNDS (66.458) - Balances outstanding at the end of the audit period were 5,892,114.
Title: LOANS OUTSTANDING
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards presents the activity of all Federal financialassistance programs of Sussex County, Delaware (the County). The County's reporting entity is defined in NoteA of the notes to basic financial statements. Federal awards that are passed through other governmental agenciesare included on the schedule. Matching funds are excluded from the schedule and program income generatedfrom federal grants is classified as federal expenditures when spent.The accompanying Schedule of Expenditures of Federal Awards is presented using the accrual and the modifiedaccrual basis of accounting, which are described in Note A of the notes to basic financial statements.Expenditures are recognized following the cost principles contained in the Uniform Guidance*, where certaintypes of expenditures are not allowed or are limited as to reimbursement. Therefore, some amounts presented inthis schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements.*Such expenditures are recognized following, as applicable, the cost principles contained in Title 2 U.S. Code ofFederal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirementsfor Federal Awards, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Neighborhood Stabilization Program (NSP 1)Program Title The County administers low-income housing loan programs under the Community Development Block Grants/Entitlement Grants for Assistance Listing Number 14.228. The total amount outstanding at June 30, 2022 is $709,532 of which $35,267 is included in the current fiscal year's federal expenditure balance for that program.