Notes to SEFA
Title: Loans and Loan Guarantees
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Therefore, amounts reported on the
Schedule are based on expenditures incurred as of September 30, 2023, even if the grant or loan was received subsequent to that
date. Federal and state expenditures are recognized following the cost principles contained in the Uniform Guidance and Chapter
10.550, Rules of the Auditor General wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rate is dictated by its federal contract terms. The 10-percent de Minimis indirect rate as allowed under the Uniform
Guidance is not in effect nor is available under its contracts.
In January 2022, the City executed a State Revolving Fund Loan agreement DW642041 for the City’s pipe rehabilitation and looping
project. Loan balance as of September 30, 2023 is $5,224,654. Loan expenditures reported in the current year Schedule are
$5,841,888.
Title: Loans and Loan Guarantees
Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Therefore, amounts reported on the
Schedule are based on expenditures incurred as of September 30, 2023, even if the grant or loan was received subsequent to that
date. Federal and state expenditures are recognized following the cost principles contained in the Uniform Guidance and Chapter
10.550, Rules of the Auditor General wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Pass-through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Indirect cost rate is dictated by its federal contract terms. The 10-percent de Minimis indirect rate as allowed under the Uniform
Guidance is not in effect nor is available under its contracts.
In March 2023, the City executed a State Revolving Fund Loan agreement DW642050 for the City’s greensand filter improvements
project. Loan balance as of September 30, 2023 is $1,414,575. Loan expenditures reported in the current year Schedule are
$2,603,233.