Notes to SEFA
Title: Basis of Presentation
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of the District’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (SEFA) presents the activity of all federal award programs of the Merced Irrigation District (the District). Federal awards received directly from federal agencies, as well as federal awards passed through other government agencies are included in the schedule. The information in this 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).
Title: Relationship to Federal Financial Reports
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of the District’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Amounts reported in the accompanying schedule agree with the amounts reported in the related periodic federal financial reports.
Title: catalog of Federal Domestic Assistance (CFDA)
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of the District’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The CFDA numbers included in the accompanying Schedule of Expenditures of Federal Awards were determined based on the program name, review of the grant or contract information and the Office Management and Budget’s Catalog of Federal Domestic Assistance.
Title: Pass-Through Entity Identifying Numbers
Accounting Policies: The accompanying SEFA is presented using the accrual basis of accounting, which is described in Note 1 of the District’s basic financial statements.
De Minimis Rate Used: N
Rate Explanation: The District has elected not to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
When Federal awards were received from a pass-through entity, the Schedule of Expenditures of Federal Awards show, if available, the identifying number assigned by the pass-through entity. When no identifying number is shown, the District has either determined that no identifying number is assigned for the program, or the District was unable to obtain an identifying number from the pass-through entity.