Notes to SEFA
Title: Outstanding Loan Balances
Accounting Policies: The accompanying Schedule of Expenditures of Federal Awards includes the activity of all federally assisted programs of the Utility and is presented on the accrual basis of accounting, as described in Note 1 to the Utility's basic financial statements. All federal awards received directly from federal agencies, as well as federal awards passed through other government agencies, are included on this schedule.
De Minimis Rate Used: N
Rate Explanation: The entity did not elect to use the 10% de minimis indirect cost rate.
At June 30, 2024, the Utility had no outstanding loan balances requiring continuing disclosure.