Title: NOTE 1 – Basis of Presentation
Accounting Policies: The accompanying Schedule is prepared whereby eligible grant expenditures are recorded when reimbursement of the grant expenditures are received from the granting agency. Disaster Grants from the Department of Homeland Security are prepared on the same basis of accounting as the District’s financial statements using the accrual basis of accounting, whereby eligible grant expenditures are recorded when incurred (i.e., when goods are received, or services provided). Such expenditures are recognized following the cost principles in Uniform Guidance wherein certain types of expenditures are not allowable or limited as to reimbursement. Expenditures reported include any property or equipment acquisitions incurred under federal programs. Pass-through identifying numbers are presented where available.
The amount shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Snohomish County PUD’s portion, are more than shown.
The District is not eligible to use an indirect rate on these federal awards, therefore the de minimis indirect cost rate as described in 2 CFR 200.414 is not being utilized.
De Minimis Rate Used: N
Rate Explanation: The de minimis indirect cost rate as described in 2 CFR 200.414 is not being utilized.
The accompanying Schedule of Expenditure of Federal Awards (“Schedule”) present the expenditure of federal awards f the Snohomish County Public District No. 1 (“the District”) for the year ended December 31, 2023. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative 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 net position, changes in net position, or cash flows of the District.
The District’s reporting entity is defined in Note 1 of the District’s financial statement. All federal awards from federal agencies are included in the Schedule.
Title: Note 2 – Summary of Significant Accounting Policies
Accounting Policies: The accompanying Schedule is prepared whereby eligible grant expenditures are recorded when reimbursement of the grant expenditures are received from the granting agency. Disaster Grants from the Department of Homeland Security are prepared on the same basis of accounting as the District’s financial statements using the accrual basis of accounting, whereby eligible grant expenditures are recorded when incurred (i.e., when goods are received, or services provided). Such expenditures are recognized following the cost principles in Uniform Guidance wherein certain types of expenditures are not allowable or limited as to reimbursement. Expenditures reported include any property or equipment acquisitions incurred under federal programs. Pass-through identifying numbers are presented where available.
The amount shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Snohomish County PUD’s portion, are more than shown.
The District is not eligible to use an indirect rate on these federal awards, therefore the de minimis indirect cost rate as described in 2 CFR 200.414 is not being utilized.
De Minimis Rate Used: N
Rate Explanation: The de minimis indirect cost rate as described in 2 CFR 200.414 is not being utilized.
The accompanying Schedule is prepared whereby eligible grant expenditures are recorded when reimbursement of the grant expenditures are received from the granting agency. Disaster Grants from the Department of Homeland Security are prepared on the same basis of accounting as the District’s financial statements using the accrual basis of accounting, whereby eligible grant expenditures are recorded when incurred (i.e., when goods are received, or services provided). Such expenditures are recognized following the cost principles in Uniform Guidance wherein certain types of expenditures are not allowable or limited as to reimbursement. Expenditures reported include any property or equipment acquisitions incurred under federal programs. Pass-through identifying numbers are presented where available.
The amount shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Snohomish County PUD’s portion, are more than shown.
The District is not eligible to use an indirect rate on these federal awards, therefore the de minimis indirect cost rate as described in 2 CFR 200.414 is not being utilized.
Title: Note 3 - Dept of Treasury Grant to WA DOC for Utility Residential Customer Arrearages
Accounting Policies: The accompanying Schedule is prepared whereby eligible grant expenditures are recorded when reimbursement of the grant expenditures are received from the granting agency. Disaster Grants from the Department of Homeland Security are prepared on the same basis of accounting as the District’s financial statements using the accrual basis of accounting, whereby eligible grant expenditures are recorded when incurred (i.e., when goods are received, or services provided). Such expenditures are recognized following the cost principles in Uniform Guidance wherein certain types of expenditures are not allowable or limited as to reimbursement. Expenditures reported include any property or equipment acquisitions incurred under federal programs. Pass-through identifying numbers are presented where available.
The amount shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Snohomish County PUD’s portion, are more than shown.
The District is not eligible to use an indirect rate on these federal awards, therefore the de minimis indirect cost rate as described in 2 CFR 200.414 is not being utilized.
De Minimis Rate Used: N
Rate Explanation: The de minimis indirect cost rate as described in 2 CFR 200.414 is not being utilized.
In November 2022, the District entered into a grant agreement with WA State Dept of Commerce to receive funds usable for Utility accounts with Arrearages from March 2020 to December 2021 related to COVID-19, meeting specific conditions. In Dec 2022 the District received and applied $11,190,099 in funds related to this grant to qualified Customer Accounts before December 31, 2022. In June 2023 the District received and applied $5,519,271 to qualified Customer Accounts before June 30, 2023.
Title: NOTE 4 - FEMA Disaster 4682
Accounting Policies: The accompanying Schedule is prepared whereby eligible grant expenditures are recorded when reimbursement of the grant expenditures are received from the granting agency. Disaster Grants from the Department of Homeland Security are prepared on the same basis of accounting as the District’s financial statements using the accrual basis of accounting, whereby eligible grant expenditures are recorded when incurred (i.e., when goods are received, or services provided). Such expenditures are recognized following the cost principles in Uniform Guidance wherein certain types of expenditures are not allowable or limited as to reimbursement. Expenditures reported include any property or equipment acquisitions incurred under federal programs. Pass-through identifying numbers are presented where available.
The amount shown as current year expenditures represent only the federal grant portion of the program costs. Entire program costs, including the Snohomish County PUD’s portion, are more than shown.
The District is not eligible to use an indirect rate on these federal awards, therefore the de minimis indirect cost rate as described in 2 CFR 200.414 is not being utilized.
De Minimis Rate Used: N
Rate Explanation: The de minimis indirect cost rate as described in 2 CFR 200.414 is not being utilized.
In November 2022, the Puget Sound area, including Snohomish & Island Counties, experienced a severe storm. This storm caused landslides, mudslides, trees and branches to fall, resulting in major outages throughout Snohomish County and Camano Island. On January 12, 2023, the Federal government declared the storms a Federal Disaster and made disaster relief funds available to Snohomish County. In 2023, the District submitted $489,406 in Category B costs related to this event. Category F costs of $9.7 million are in review with FEMA and have not been obligated. As of December 31, 2023, the District has recorded $428K as a receivable and a corresponding expenditure of the same amount. This receivable includes the federal portion of $367,055, and the state portion of $61,176.