Notes to SEFA
Accounting Policies: The accompanying schedule of expenditures of federal awards (SEFA) includes the federal grant activityof Public Utility District No. 1 of Jefferson County, Washington (the District) and is presented on the accrualbasis of accounting. The information in this Schedule is presented in accordance with the requirements ofTitle 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles,and Audit Requirements for Federal Awards (Uniform Guidance). Because the SEFA presents only aselected portion of the operations of the District, it is not intended to and does not present the financialposition, changes in net assets, or cash flows of the District.Expenditures reported on the SEFA are reported on the accrual basis of accounting. Such expendituresare recognized following the cost principles contained in the Uniform Guidance, wherein certain types ofexpenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.