Notes to SEFA
Title: Basis of Presentation
Accounting Policies: 2. Summary of Significant Accounting Policies
The accompanying Schedule of Expenditures of Federal Awards is presented on the modified accrual basis of accounting in
accordance with generally accepted accounting principles. Expenditures reported on this schedule are recognized following the cost
principles in Title 2 US Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principals, and Audit
Requirements for Federal Awards, where certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough
entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Did not charge indirect costs to awards
The accompanying Schedule of Expenditures of Federal Awards includes the federal grant activity of Medford Water under programs
of the federal government for the year ended June 30, 2023. The information in this schedule is presented in accordance with the
requirements of Title 2 US Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principals, and
Audit Requirements for Federal Awards. Because the schedule presents only a selected portion of the operation of Medford Water, it
is not intended to and does not present the financial position, changes in financial position, or cash flow for the Medford Water.
Title: Summary of significant accounting policies
Accounting Policies: 2. Summary of Significant Accounting Policies
The accompanying Schedule of Expenditures of Federal Awards is presented on the modified accrual basis of accounting in
accordance with generally accepted accounting principles. Expenditures reported on this schedule are recognized following the cost
principles in Title 2 US Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principals, and Audit
Requirements for Federal Awards, where certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough
entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Did not charge indirect costs to awards
The accompanying Schedule of Expenditures of Federal Awards is presented on the modified accrual basis of accounting in
accordance with generally accepted accounting principles. Expenditures reported on this schedule are recognized following the cost
principles in Title 2 US Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principals, and Audit
Requirements for Federal Awards, where certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough
entity identifying numbers are presented where available.
Title: Indirect cost
Accounting Policies: 2. Summary of Significant Accounting Policies
The accompanying Schedule of Expenditures of Federal Awards is presented on the modified accrual basis of accounting in
accordance with generally accepted accounting principles. Expenditures reported on this schedule are recognized following the cost
principles in Title 2 US Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principals, and Audit
Requirements for Federal Awards, where certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough
entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Did not charge indirect costs to awards
The District has not elected to use the 10% de minimis cost rate.
Title: Loan Balance
Accounting Policies: 2. Summary of Significant Accounting Policies
The accompanying Schedule of Expenditures of Federal Awards is presented on the modified accrual basis of accounting in
accordance with generally accepted accounting principles. Expenditures reported on this schedule are recognized following the cost
principles in Title 2 US Code of Federal Regulations (CFR) Part 200 Uniform Administrative Requirements, Cost Principals, and Audit
Requirements for Federal Awards, where certain types of expenditures are not allowable or are limited as to reimbursement. Passthrough
entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: Did not charge indirect costs to awards
The loan balabce of the Water Infrastructure Finance and Innovation loans at June 30, 2024 was $ 60,638,739