Notes to SEFA
Title: LOANS PAYABLE OUTSTANDING
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 and OMB Circular A-87 Cost Principles for State Local and Indian Tribal Governments wherein certain types of expenditures are not allowed or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: No indirect cost were applied
Under federal loan program Clean Water State Revolving funds AL 66 458 had loan balance of 3183140
Title: BASIS OF PRESENTATION
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 and OMB Circular A-87 Cost Principles for State Local and Indian Tribal Governments wherein certain types of expenditures are not allowed or are limited as to reimbursement
De Minimis Rate Used: N
Rate Explanation: No indirect cost were applied
The accompanying schedule of expenditures of Federal awards includes the Federal award activity of the Town of Ansted under programs of the federal government for the year ended June 30, 2023 in accordance with the requirements of Title 2 U. S. Code of Federal Regulations Part 200 Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards Uniform Guidance Because the Schedule presents only a selected portion of the operations of the Town it is not intended to and does not present the financial position, changes in net assets or cash flows of the Town