Notes to SEFA
Title: Loan and loan guarantees
Accounting Policies: The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal
grant activity of the Brooke County Public Service District (the District) 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 the District, it
is not intended to and does not present the financial position, changes in net assets, or cash flows of
the District. 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: The deminis cost rate was not used.
Loan balance at June 30, 2023 is 9,640,476