Notes to SEFA
Title: LOANS
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PRESENTED USING THE ACCRUAL BASIS OF ACCOUNTING. EXPENDITURES ARE RECOGNIZED FOLLOWING THE APPLICABLE COST PRINCIPLES CONTAINED IN EITHER TITLE 2 U.S. CODE OF FEDERAL REGULATIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE) OR THE OMB A-87, COST PRINCIPLES FOR STATE, LOCAL AND INDIAN TRIBAL GOVERNMENTS, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE AUTHORITY HAS ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
DRINKING WATER STATE REVOLVING FUND, ADMINISTERED BY GEORGIA ENVIRONMENTAL FINANCE AUTHORITY (GEFA) ISSUED A LOAN ON APRIL 6, 2018, MODIFIED ON JULY 27, 2022 TO REPLACE MANUAL READ WATER METERS WITH ADVANCED METERING INFRASTRUCTURE SYSTEM (AMI) AND TO MODIFY, REPAIR AND REPLACE VARIOUS FACILITY COMPONENTS OF THE BT BROWN WATER TREATMENT PLANT. THIS LOAN PROGRAM UNDER ANL#66.468, HAD AN OUTSTANDING BALANCE OF $8,391,953. DRINKING WATER STATE REVOLVING FUND, ADMINISTERED BY GEFA ISSUED A SECOND LOAN ON FEBRUARY 13, 2023, TO PLAN, DESIGN AND ACQUIRE LAND FOR A NEW WATER WITHDRAWAL PUMP STATION ON THE CHATTAHOOCHEE RIVER. THIS LOAN UNDER ANL#66.468, HAD AN OUTSTANDING BALANCE OF $369,832 AT JUNE 30, 2023. ADDITIONALLY, CLEAN WATER STATE REVOLVING FUND, ADMINISTERED BY GEFA ISSUED A LOAN ON MARCH 23, 2022 TO INCREASE THE CAPACITY AND MAKE IMPROVEMENTS AT THE SHENANDOAH WATER TREATMENT FACILITY, INCLUDING THE INSTALLATION OF A 36-INCH OUTFALL LINE. THIS LOAN PROGRAM UNDER ANL#66.458, HAD AN OUTSTANDING BALANCE OF $6,537,887 AT JUNE 30, 2023.
Title: RELATIONSHIP TO FEDERAL FINANCIAL REPORTS
Accounting Policies: THE ACCOMPANYING SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS IS PRESENTED USING THE ACCRUAL BASIS OF ACCOUNTING. EXPENDITURES ARE RECOGNIZED FOLLOWING THE APPLICABLE COST PRINCIPLES CONTAINED IN EITHER TITLE 2 U.S. CODE OF FEDERAL REGULATIONS PART 200, UNIFORM ADMINISTRATIVE REQUIREMENTS FOR FEDERAL AWARDS (UNIFORM GUIDANCE) OR THE OMB A-87, COST PRINCIPLES FOR STATE, LOCAL AND INDIAN TRIBAL GOVERNMENTS, WHEREIN CERTAIN TYPES OF EXPENDITURES ARE NOT ALLOWABLE OR ARE LIMITED AS TO REIMBURSEMENT.
De Minimis Rate Used: N
Rate Explanation: THE AUTHORITY HAS ELECTED NOT TO USE THE 10 PERCENT DE MINIMIS INDIRECT COST RATE AS ALLOWED UNDER THE UNIFORM GUIDANCE.
AMOUNTS REPORTED IN THE ACCOMPANYING SEFA AGREE WITH THE AMOUNTS IN THE RELATED FEDERAL FINANCIAL REPORT.