Notes to SEFA
Title: Note 1. General
Accounting Policies: The SEFA is presented on the accrual basis of accounting. All federal awards received directly from federal agencies, as well as federal assistance passed through other government agencies is included on the schedule.
De Minimis Rate Used: N
Rate Explanation: The Sussex County Municipal Utilities Authority uses negotiated indirect cost rates.
The accompanying Schedules of Expenditures of Federal Awards and State Financial Assistance present the activity of all federal and state award programs of the Sussex County Municipal Utilities Authority. The Authority is defined in Note 1 to the Authority's basic financial statements. All federal and state awards received directly from federal and state agencies, as well as federal and state financial assistance passed through other government agencies is included on the Schedule of Expenditures of Federal Awards and State Financial Assistance.
Title: Note 2. Basis of Accounting
Accounting Policies: The SEFA is presented on the accrual basis of accounting. All federal awards received directly from federal agencies, as well as federal assistance passed through other government agencies is included on the schedule.
De Minimis Rate Used: N
Rate Explanation: The Sussex County Municipal Utilities Authority uses negotiated indirect cost rates.
The accompanying Schedules of Expenditures of Federal Awards and State Financial Assistance are presented on the accrual basis of accounting. This basis of accounting is described in Note 2(A) to the Authority's basic financial statements. The information in this schedule is presented in accordance with the requirements of the Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations and Single Audit Policy for Recipients of Grants, State Grants, and State Aid.
Title: Note 3. Relationship to Basic Financial Statements
Accounting Policies: The SEFA is presented on the accrual basis of accounting. All federal awards received directly from federal agencies, as well as federal assistance passed through other government agencies is included on the schedule.
De Minimis Rate Used: N
Rate Explanation: The Sussex County Municipal Utilities Authority uses negotiated indirect cost rates.
Awards and financial assistance revenues are reported in the Authority's basic financial statements on a GAAP basis as follows: SEE THE NOTES TO THE SEFA FOR CHART/TABLE
Title: Note 4. Relationship to Federal and State Financial Reports
Accounting Policies: The SEFA is presented on the accrual basis of accounting. All federal awards received directly from federal agencies, as well as federal assistance passed through other government agencies is included on the schedule.
De Minimis Rate Used: N
Rate Explanation: The Sussex County Municipal Utilities Authority uses negotiated indirect cost rates.
Amounts reported in the accompanying schedules agree with amounts reported in the related federal and state financial reports.
Title: Note 5. Indirect Cost Rate
Accounting Policies: The SEFA is presented on the accrual basis of accounting. All federal awards received directly from federal agencies, as well as federal assistance passed through other government agencies is included on the schedule.
De Minimis Rate Used: N
Rate Explanation: The Sussex County Municipal Utilities Authority uses negotiated indirect cost rates.
The Sussex County Municipal Utilities Authority has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.