Notes to SEFA
Title: Reporting Entity:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate for fiscal year 2024.
The accompanying schedule of expenditures of federal awards (schedule) presents all activity or expenditure
or all federal award programs of the Pine-Strawberry Water Improvement District (District) for the year ended
June 30, 2024. The District’s reporting entity is defined in note 1 of the basic financial statements. All
expenditure of federal awards received directly from federal agencies as well as federal awards passed
through other government agencies are included in the schedule.
Title: Basis of Accounting:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate for fiscal year 2024.
This accompanying schedule has been prepared on the modified accrual basis of accounting. 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, Cost Principles, and Audit Requirements for Federal Awards
(Uniform Guidance).
Title: Indirect Cost Rate:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate for fiscal year 2024.
The District did not elect to use the 10% de minimis indirect cost rate for fiscal year 2024.
Title: Federal Loans and Loan Guarantee Programs Outstanding:
Accounting Policies: This accompanying schedule has been prepared on the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: The District did not elect to use the 10% de minimis indirect cost rate for fiscal year 2024.
The District’s loans do not have continuing compliance requirements. The expenditures reported on the
schedule represent fiscal year June 30, 2024, expenditures that will be reimbursed by loan funding.