Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: Expenses reported on the Schedule are reported on the accrual basis. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not charge indirect costs to federal programs during the year ended June 30, 2024.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the Tuolumne Utilities District (the District) under programs of the federal government for year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements for Federal Awards (Uniform Guidance). Because the schedule presents only a selected portion of the District’s operations, it is not intended to be and does not present the financial position, changes in financial position, or cash flows of the District.
Title: PROGRAM COSTS/MATCHING CONTRIBUTIONS
Accounting Policies: Expenses reported on the Schedule are reported on the accrual basis. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not charge indirect costs to federal programs during the year ended June 30, 2024.
The amounts shown as current year expenses represent only the federal grant portion of the program costs. Entire program costs, including the District’s portion, may be more than shown.
Title: CLUSTERS OF PROGRAMS
Accounting Policies: Expenses reported on the Schedule are reported on the accrual basis. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not charge indirect costs to federal programs during the year ended June 30, 2024.
There were no clusters of the District’s federal programs during the year ended June 30, 2024.
Title: SUBRECIPIENTS
Accounting Policies: Expenses reported on the Schedule are reported on the accrual basis. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not charge indirect costs to federal programs during the year ended June 30, 2024.
There were no subrecipients of the District’s federal programs during the year ended June 30, 2024.
Title: LOAN PROGRAM
Accounting Policies: Expenses reported on the Schedule are reported on the accrual basis. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: The District did not charge indirect costs to federal programs during the year ended June 30, 2024.
The District received $24,879,000 in federal loans during FY2024 to pay off interim financing (2021 COP) associated with the Regional Wastewater Treatment Plant project (see note 5B).