Audit 25833

Title: Basis of Presentation Accounting Policies: Expenditures reported on the State of Wyoming Clean Water State Revolving Fund Program's (the Program) Schedule of Expenditures of Federal Awards (the Schedule) are reported on the modified accrual basis of accounting. Such expenditures are recognized following, as applicable, either the cost principles contained in Office of Management and Budget Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, or the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance), wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: N Rate Explanation: The Program did not elect to use the 10% de minimis indirect cost rate allowed under the Uniform Guidance. The Schedule includes the Federal award activity of the Program under programs of the Federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance. Because the Schedule presents only a selected portion of the operations of the Program, it is not intended to, and does not, present the financial position or changes in fund balance of the Program.