Notes to SEFA
Title: 1
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: City Water and Light did not have any de minimis indirect costs incurred.
The accompanying schedule of expenditures of federal awards ("SEF A") includes the federal award activity of City Water and Light Plant of Jonesboro, Arkansas under programs of the federal government for the year ended December 31, 2023. The information in the SEFA 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 ("Uniform Guidance"). Because the SEF A presents only a selected portion of the operations of City Water and Light, it is not intended to and does not present the financial position, changes in net assets or cash flows of City Water and Light.
Title: 2
Accounting Policies: Expenditures reported on the SEFA are reported on the accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: City Water and Light did not have any de minimis indirect costs incurred.
Expenditures reported on the SEF A are reported on the accrual basis of accounting. Disbursements are recognized following, as applicable, the cost principles in U.S. Office of Management and Budget's Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. City Water and Light has elected not to use the 10% de minimis indirect cost rate allowed under Uniform Guidance.