Notes to SEFA
Title: Note 3 - Federal Loans
Accounting Policies: This Schedule is prepared on the same basis of accounting as the district’s financial statements. The district uses the accrual method.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. No indirect costs were charged.
The District was approved by the EPA and Drinking Water State Revolving Fund to receive loans totaling $139,100 to improve its drinking water systems, which includes 100% loan forgiveness. The District drew $96,107 against this award in 2023, with a balance of $42,993.
Title: Note 4 - Program Costs
Accounting Policies: This Schedule is prepared on the same basis of accounting as the district’s financial statements. The district uses the accrual method.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. No indirect costs were charged.
The amounts shown as current year expenditures represent only the federal award portion of the program costs. Entire program costs, including the district’s portion, are more than shown. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: Note 5 -FEMA Disaster Grants - Public Assistance
Accounting Policies: This Schedule is prepared on the same basis of accounting as the district’s financial statements. The district uses the accrual method.
De Minimis Rate Used: N
Rate Explanation: The district has not elected to use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance. No indirect costs were charged.
The amounts included on the SEFA relative to the FEMA Disaster Grant were incurred in a prior year, but was not approved by FEMA until 2023.