Notes to SEFA
Title: Note 4. Federally Funded Insurance
Accounting Policies: Note 1. Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federalaward activity of the Anthony Water and Sanitation District under programs of the federalgovernment for the year ended June 30, 2022. The information in this Schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion or the operations of the District, itis not intended to and does not present the financial position, changes in net position or cash flows ofthe District.Note 2. Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures 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 auditee did not use the de minimis cost rate.
The District has no federally funded insurance.
Title: NOTE 5. LOAN
Accounting Policies: Note 1. Basis of PresentationThe accompanying Schedule of Expenditures of Federal Awards (Schedule) includes the federalaward activity of the Anthony Water and Sanitation District under programs of the federalgovernment for the year ended June 30, 2022. The information in this Schedule is presented inaccordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, UniformAdministrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (UniformGuidance). Because the Schedule presents only a selected portion or the operations of the District, itis not intended to and does not present the financial position, changes in net position or cash flows ofthe District.Note 2. Summary of Significant Accounting PoliciesExpenditures reported on the Schedule are reported on the accrual basis of accounting. Suchexpenditures 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 auditee did not use the de minimis cost rate.
WATER AND WASTE DISPOSAL LOANS AND GRANTS (SECTION 306C) (10.770)- BALANCE OUTSTANDING AT THE END OF THE AUDIT PERIOD WERE $1,815,648.