Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Expenditures reported on 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: District did not apply an indirect cost rate
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal award activity of The Metropolitan St. Louis Sewer 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 2 CFR 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 Metropolitan St. Louis Sewer District, it is not intended to and does not present the financial position, changes in net position, or cash flows of The Metropolitan St. Louis Sewer District.
Title: Summary of Significant Accounting Policies
Accounting Policies: Expenditures reported on 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: District did not apply an indirect cost rate
Expenditures reported on 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.
Title: Indirect Cost Rate
Accounting Policies: Expenditures reported on 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: District did not apply an indirect cost rate
The Metropolitan St. Louis Sewer District has not elected to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance
Title: Out of Period Expenses
Accounting Policies: Expenditures reported on 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: District did not apply an indirect cost rate
Based on guidance from the Missouri Department of Natural Resources, the Metropolitan St. Louis Sewer District corrected the following expenses identified, which were reported in the schedule of expenditures of federal awards for the year ended June 30, 2023, as corrections in schedule of expenditures for federal awards for the year ended June 30, 2024, as follows: