Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Accrual basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The BPUB did not elect to use the de minimis cost rate. Actual costs were used based on grantor approved grant budget.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award
activity of the Public Utilities Board and is presented on the accrual basis of accounting. The information
in this schedule is presented in accordance with the requirements of the Title 2 U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Costs Principles, and Audit Requirements for
Federal Awards (“Uniform Guidance”). Some amounts presented in this schedule may differ from amounts
presented in, or used in preparation of, the basic financial statements. Because the schedule presents only a
selected portion of the operations of the Public Utilities Board, it is not intended to and does not represent
the financial position of the Public Utilities Board.
Title: INDIRECT COST RATE
Accounting Policies: Accrual basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The BPUB did not elect to use the de minimis cost rate. Actual costs were used based on grantor approved grant budget.
The Uniform Guidance allows an organization to elect a 10% de minimums indirect cost rate. For the year
ended September 30, 2023, the Public Utilities Board did not elect to use this rate.
Title: LOAN / LOAN GUARANTEES OUTSTANDING BALANCES
Accounting Policies: Accrual basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The BPUB did not elect to use the de minimis cost rate. Actual costs were used based on grantor approved grant budget.
The Brownsville Public Utilities Board did not have any federal loans or loan guarantees outstanding during
the year ended September 30, 2023.
Title: SUB-RECEIPIENTS
Accounting Policies: Accrual basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The BPUB did not elect to use the de minimis cost rate. Actual costs were used based on grantor approved grant budget.
The Brownsville Public Utilities Board did not have any sub-recipients during the year ended September
30, 2023.
Title: NONCASH ASSISTNACE AND OTHER
Accounting Policies: Accrual basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The BPUB did not elect to use the de minimis cost rate. Actual costs were used based on grantor approved grant budget.
The Public Utilities Board did not receive any noncash assistance or federally funded insurance during the
year ended September 30, 2023.
Title: CONTINGENCIES
Accounting Policies: Accrual basis of Accounting
De Minimis Rate Used: N
Rate Explanation: The BPUB did not elect to use the de minimis cost rate. Actual costs were used based on grantor approved grant budget.
Grant monies received and disbursed by the Public Utilities Board are for specific purposes and are subject
to review by the grantor agencies. Such audits may result in requests for reimbursement due to disallowed
expenditures. Based upon experience, the Public Utilities Board does not believe that such disallowance, if
any, would have a material effect on the financial position of the Public Utilities Board.