Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on the Schedule are reported pm the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State and Local and Indian Tribal Governments, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Adian Public Service District has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards includes the federal award activity of Adrian Service District under programs of the federal government for the year ended June 30, 2023 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 schedule represents only the selected portion of the operations of the Adrian Public Service District, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the Adrian Public Service District.
Title: Loans Outstanding
Accounting Policies: Expenditures reported on the Schedule are reported pm the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State and Local and Indian Tribal Governments, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Adian Public Service District has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
The District had the following loan balances outstanding at June 30, 2023. Loans outstanding at the beginning of the year and loans made during the yar are included as federal expenditures presented in this schedule. Water and Waste Disposal Systems for Rural Communities AL #10.760 Outstanding Loan Balance $4,900,000. Water and Waste Disposal Systems for Rural Communities AL # 10.760 Outstanding Loan Balanc $ 84,000
Title: Pass-through to Subrecipients
Accounting Policies: Expenditures reported on the Schedule are reported pm the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State and Local and Indian Tribal Governments, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Adian Public Service District has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
There were no awards passed through to subrecipients.
Title: Assistance Listing (Catalog of Federal domestic Assistance (CFDA)
Accounting Policies: Expenditures reported on the Schedule are reported pm the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State and Local and Indian Tribal Governments, wherein certain types of expenditures are not allowed or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Adian Public Service District has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.
Assistance Listing (AL) has replaced the Catalog of Federal Domestic Assistance (CFDA) for identifying federal programs.