Notes to SEFA
Title: Note 1: Loans Outstanding
Accounting Policies: Schedule is prepared using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rate is not applicable to this program.
At June 30, 2023, there were outstanding balances of $79,893 and $828,546 on prior loans obtained through the State Revolving Loan Fund. Repayments during the current fiscal year totaled $56,244 and $64,644 respectively. The loan currently being funded has a balance of $2,065,579.
Title: Note 1: Loans Outstanding
Accounting Policies: Schedule is prepared using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rate is not applicable to this program.
At June 30, 2023, amounts owed to the U. S. D. A. totaled $1.693,816. Repayments for the year totaled $36,821.
Title: Note 2:
Accounting Policies: Schedule is prepared using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rate is not applicable to this program.
The schedule is presented using the accrual basis of accounting.
Title: Note 2:
Accounting Policies: Schedule is prepared using the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rate is not applicable to this program.
Indirect cost Rate: Metropolitan Lynchburg-Moore County Water and Sewer Department did not elect to use the 10-percent de minimus indirect cost rate allowed unddr the Uniform Guidance.