Notes to SEFA
Title: Loan/loan guarantee outstanding balances
Accounting Policies: Note A - Basis of Presentation. The schedule of expenditures of federal awards includes the federal awards activity of the District and is presented on the accrual basis of accounting. Note B - Summary of Significant Accounting Policies. The District expended funds for the construction of the Powell Valley watertank. These expenditures are required to be considered as Federal Awards expended. Note D. - Loan Forgiveness. The State Revolving Fund loans include in their original award amount $115,000 of forgiveness. $92,099 of this was forgiven during the current period.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
CAPITALIZATION GRANTS FOR DRINKING WATER STATE REVOLVING FUNDS (66.468) - Balances outstanding at the end of the audit period were 365574. Water and Waste Disposal Systems for Rural Communities (10.760) - Balances outstanding at the end of the audit period were 1655218.