Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PRESENTED USING THE ACCRUAL BASIS OF ACCOUNTING WHICH IS DESCRIBED IN NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES TO THE AUTHORITY'S BASIC FINANCIAL STATEMENTS. EXPENDITURES ARE RECOGNIZED FOLLOWING THE APPLICABLE COST PRINCIPLES CONTAINED IN EITHER TITLE 2 U.S. CODE OF FEDERAL REGULTAIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS ("UNIFORM GUIDANCE") OR THE OMB a-87, COST PRINCIPLES FOR STATE, LOCAL, AND INDIAN TRIBAL GOVERNMENTS, WHEREIN CERTAIN TYPES OF EPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENTS.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
CAPITALIZATION GRANTS FOR CLEAN WATER STATE REVOLVING FUNDS (66.458) - Balances outstanding at the end of the audit period were 965600.
Title: GENERAL
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PRESENTED USING THE ACCRUAL BASIS OF ACCOUNTING WHICH IS DESCRIBED IN NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES TO THE AUTHORITY'S BASIC FINANCIAL STATEMENTS. EXPENDITURES ARE RECOGNIZED FOLLOWING THE APPLICABLE COST PRINCIPLES CONTAINED IN EITHER TITLE 2 U.S. CODE OF FEDERAL REGULTAIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS ("UNIFORM GUIDANCE") OR THE OMB a-87, COST PRINCIPLES FOR STATE, LOCAL, AND INDIAN TRIBAL GOVERNMENTS, WHEREIN CERTAIN TYPES OF EPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENTS.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS PRESENTS THE ACTIVITY OF ALL FEDERAL AWARDS RECEIVED BY COWETA COUNTY WATER & SEWERAGE AUTHORITY (THE AUTHORITY). ALL FEDERAL AWARDS RECEIVED DIRECTLY FROM FEDERAL AGENCIES, AS WELL AS FEDERAL AWARDS PASSED THORUGH OTHER GOVERNMENT AGENCIES, IS INCLUDED IN THIS SCHEDULE.
Title: LOANS
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PRESENTED USING THE ACCRUAL BASIS OF ACCOUNTING WHICH IS DESCRIBED IN NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES TO THE AUTHORITY'S BASIC FINANCIAL STATEMENTS. EXPENDITURES ARE RECOGNIZED FOLLOWING THE APPLICABLE COST PRINCIPLES CONTAINED IN EITHER TITLE 2 U.S. CODE OF FEDERAL REGULTAIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND AUDIT REQUIREMENTS FOR FEDERAL AWARDS ("UNIFORM GUIDANCE") OR THE OMB a-87, COST PRINCIPLES FOR STATE, LOCAL, AND INDIAN TRIBAL GOVERNMENTS, WHEREIN CERTAIN TYPES OF EPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENTS.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
DRINKING WATER REVOLVING FUND, ADMINISTERED BY GEORGIA ENVIRONMENTAL FINANCE AUTHORITY ISSED A LOAN ON APRIL 6, 2018, MODIFIED ON JULY 27, 2022 TO REPLACE MANUAL READ METERS WITH ADVANCE METERING INFRASTRUCTURE SYSTEM (AMI), BACKFLOW PREVENTERS AND RELATED APPURTENANCES. MODIFIED TO INCLUDE REPAIR AND REPLACE VARIOUS FACILITY COMPONENTS OF THE BT BROWN WATER TREATMENT PLANT. THIS LOAN PROGRAM UNDER ANL #66.468, HAD OUTSTANDING BALANCE OF $5,494,820 AT JUNE 30, 2022.