Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: NOTE 1 BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of the City of Goodell, Iowa and is presented on the basis of cash receipts and disbursements, which is abasis of accounting other than accounting principles generally accepted in the United States of America. The information in this Schedule is presented in accordance with the requirements of the Uniform Guidance. Therefore, some amounts presented in this Schedule may differ from amounts presented in, or used in, the preparation of the cash basis financial statements. NOTE 2 PASS-THROUGH GRANT NUMBERS All pass-through entities listed above use the same Assistance Listing numbers as the federal grantors to identify these grants and have not assigned any additional identifying numbers.
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 1000000.