Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Harlan Municipal Utilites has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federal award activity of Harlan Municipal Utilities under programs of the federal government for the 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, Cost Principles, and Audit Requirements for Federal Awards(Uniform Guidance). Because the Schedule presents only a selected portion of the operations of Harlan Municipal Utilities, it is not intended to and does not present the financial position, changes in financial position, or cash flows of Harlan Municipal Utilities.
Title: Subrecipients
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Harlan Municipal Utilites has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
No federal grant awards were passed through to subrecipients during the year ended June 30, 2024.
Title: Water and Waste Disposal Systems for Rural Communities Program
Accounting Policies: Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
De Minimis Rate Used: N
Rate Explanation: Harlan Municipal Utilites has not elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance.
Harlan Municipal Utilities had outstanding loans of $4,081,034 as of June 30, 2024