Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards (theSchedule) are reported under the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule includes the federal award activity of the City of Williston, NorthDakota under programs of the federal government for the year ended December 31, 2022. Theinformation in this Schedule is presented 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 Schedulepresents only a selected portion of the operations of the City, it is not intended to and does notpresent the financial position, changes in net position, or cash flows of the City of Williston,North Dakota.
Title: SUBRECIPIENTS
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards (theSchedule) are reported under the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
During 2022, the City passed federal money to the following subrecipients:Williston Housing Authority $ 60,747Family Crisis Shelter 8,008
Title: OUTSTANDING LOAN
Accounting Policies: Expenditures reported on the accompanying schedule of expenditures of federal awards (theSchedule) are reported under the accrual basis of accounting. Such expenditures arerecognized following the cost principles contained in the Uniform Guidance, wherein certaintypes of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The City has three outstanding federal loans as of December 31, 2022:ALNumberOriginationDateOriginationAmount Funding Source Maturity Loan Balance10.766 10/16/19 $ 2,982,741 Department of Agriculture 10/16/2037 $ 1 ,781,03110.766 11/19/20 19,000,000 Department of Agriculture 11/19/2050 1 8,251,84110.766 11/19/20 95,000,000 Department of Agriculture 11/19/2055 9 1,246,033