Notes to SEFA
Title: NOTE 1 - REPORTING ENTITY
Accounting Policies: Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements, regardless of the measurement focus applied. All proprietary funds are reported using the economic resources measurement focus and the accrual basis of accounting. Expenditures of Federal Awards reported on the Schedule are recognized when incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The Schedule of Expenditure of Federal Awards (the Schedule) includes expenditures of federal awards for the Contra Costa Water District (the District), California, and its component units as disclosed in the notes to the Basic Financial Statements.
Title: NOTE 4 - PRIOR YEAR ADJUSTMENTS
Accounting Policies: Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements, regardless of the measurement focus applied. All proprietary funds are reported using the economic resources measurement focus and the accrual basis of accounting. Expenditures of Federal Awards reported on the Schedule are recognized when incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The current year Schedule of Expenditures of Federal Awards includes expenditures from fiscal year 2021 for the Department of the Interior Water Storage Enhancement Program in the amount of $____________.
Title: NOTE 5 - CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUND PROGRAM
Accounting Policies: Basis of accounting refers to when revenues and expenditures or expenses are recognized in the accounts and reported in the financial statements, regardless of the measurement focus applied. All proprietary funds are reported using the economic resources measurement focus and the accrual basis of accounting. Expenditures of Federal Awards reported on the Schedule are recognized when incurred.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The current year Schedule of Expenditures of Federal Awards for the year ended June 30, 2022 includes expenditures for the American Rescue Plan Coronavirus State and Local Fiscal Recovery Fund Program (AL# 21.027) for the period of March 4, 2020 to June 30, 2022. The period of performance for the grant began on March 4, 2020.