Notes to SEFA
Title: Note 1 - Basis of Presentation
Accounting Policies: Expenses reported on the schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: N/A
The accompanying schedule of expenditures of federal awards includes the federal grant activity of Lindsay-Strathmore Irrigation District under programs of the federal government for the year ended December 31, 2023. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (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 District, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the financial statements.
Title: Note 4 - Federal Expenditures
Accounting Policies: Expenses reported on the schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: N/A
The value of federal awards expended under the loan program, for the year ended December 31, 2023, is calculated as follows:
Title: Note 5 - Subrecipients
Accounting Policies: Expenses reported on the schedule are reported on the accrual basis of accounting. Such expenses are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenses are not allowable or are limited as to reimbursement. Negative amounts shown on the schedule represent adjustments or credits made in the normal course of business to amounts reported as expenses in prior years.
De Minimis Rate Used: N
Rate Explanation: N/A
For the year ended December 31, 2023, no federal awards were provided to subrecipients by Lindsay-Strathmore Irrigation District.