Notes to SEFA
Title: Reporting Entity:
Accounting Policies: This accompanying schedule of expenditures of federal awards has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de Minimis indirect cost rate for fiscal year 2023. There were no indirect cost allocations made to any of the federal grants as listed in the accompanying schedule of expenditures of federal awards.
The accompanying schedule of expenditures of federal awards (schedule) presents the activity or
expenditure of all federal awards programs of Bountiful Irrigation District, (District) for the year ended
December 31, 2023. The District’s reporting entity is defined in Note 1 of the basic financial statements.
All expenditure of federal awards received directly from federal agencies as well as federal awards passed
through other government agencies are included in the schedule.
Title: Basis of Accounting:
Accounting Policies: This accompanying schedule of expenditures of federal awards has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de Minimis indirect cost rate for fiscal year 2023. There were no indirect cost allocations made to any of the federal grants as listed in the accompanying schedule of expenditures of federal awards.
This accompanying schedule of expenditures of federal awards has been prepared on the modified accrual
basis of accounting. The information in this schedule is presented 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.
Title: Indirect Cost Rate:
Accounting Policies: This accompanying schedule of expenditures of federal awards has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de Minimis indirect cost rate for fiscal year 2023. There were no indirect cost allocations made to any of the federal grants as listed in the accompanying schedule of expenditures of federal awards.
The District did not elect to use the 10% de Minimis indirect cost rate for fiscal year 2023. There were no indirect cost allocations made to any of the federal grants as listed in the accompanying schedule of expenditures of federal awards.
Title: Federal Loans and Loan Guarantee Programs Outstanding:
Accounting Policies: This accompanying schedule of expenditures of federal awards has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de Minimis indirect cost rate for fiscal year 2023. There were no indirect cost allocations made to any of the federal grants as listed in the accompanying schedule of expenditures of federal awards.
The District did not have any federal loans outstanding at December 31, 2023.