Audit 335667

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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement De Minimis Rate Used: N Rate Explanation: The Association has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the federal grant activity of the Ohio Rural Water Association under programs of the federal government for the year ended September 30, 2023. The information on this Schedule is prepared in accordance with the requirements of Title 2 U.S. Code of Federal Regulations 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 Association, it is not intended to and does not present the financial position, changes in net position, or cash flows of the Association.

Title: Summary of Significant Accounting Principals 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement De Minimis Rate Used: N Rate Explanation: The Association has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement.

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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement De Minimis Rate Used: N Rate Explanation: The Association has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance The Association has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance.

Title: Matching Requirments 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 Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures may or may not be allowable or may be limited as to reimbursement De Minimis Rate Used: N Rate Explanation: The Association has elected not to use the 10-percent de minimis indirect cost rate as allowed under the Uniform Guidance Certain Federal programs require the Association to contribute non-Federal funds (matching funds) to support the Federally funded programs. The Association has met its matching requirements. The Schedule does not include the expenditure of non-Federal matching funds.