Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Full Accrual Basis
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% deminimus indirect cost rate.
The accompanying schedule of expenditures of federal awards includes the federal award activity of Harris County Water Control and Improvement District No. 21 under programs of the federal government for the year ended July 31, 2023. The info in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 222, Uniform Adminstrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule Presents only a selected portion of the Operations of the District, it is not intended to and does not present the financial position or changes in net position of the District.
Title: Summary of Significant Accounting Policies
Accounting Policies: Full Accrual Basis
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% deminimus indirect cost rate.
Expenditures reported on the Schedule are reported on the full basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Indirect Cost Rate
Accounting Policies: Full Accrual Basis
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10% deminimus indirect cost rate.
The District has elected not to use the 10% de minimus indirect cost rate allowed under the Uniform Guidance.