Title: #1.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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
The accompanying schedule of expenditures of federal awards (the “Schedule”) includes the federal
Title: #1.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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
award activity of the Chesaning-Brady Fire Administrative Board under programs of the federal
Title: #1.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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
government for the year ended March 31, 2024. The information in this Schedule is presented in
Title: #1.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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Title: #1.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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform
Title: #1.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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
Guidance). Because the Schedule presents only a selected portion of the operations of the Chesaning-
Title: #1.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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
Brady Fire Administrative Board, it is not intended to and does not present the financial position, changes
Title: #1.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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
in net position, or cash flows of the Chesaning-Brady Fire Administrative Board.
Title: #2. 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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures
Title: #2. 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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of
Title: #2. 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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
Title: #2. 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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
Title: #2. 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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
Title: #2. 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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
includes USDA loan balances for community facilities loans with continuing compliance requirements
Title: #3 LOANS OUTSTANDING
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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
The Chesaning-Brady Fire Administrative Board had the following loan balances outstanding at March
Title: #3 LOANS OUTSTANDING
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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
31, 2024:
Title: #4 RECONCIL SEFA TO FIN. STATEMENTS
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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
Reported in the Fire Board’s financial statements for the year ended March 31, 2024:
Title: #4 RECONCIL SEFA TO FIN. STATEMENTS
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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
Reported on the SEFA for the year ended March 31, 2024:
Title: #4 RECONCIL SEFA TO FIN. STATEMENTS
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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
Total current year expenditures $ 1,091,446
Title: #4 RECONCIL SEFA TO FIN. STATEMENTS
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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
Less: USDA Community Facilities Loan balance with
Title: #4 RECONCIL SEFA TO FIN. STATEMENTS
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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
continuing compliance requirements ( 789,000)
Title: #4 RECONCIL SEFA TO FIN. STATEMENTS
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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
Total expenditures on the financial statements $ 302,446
Title: #4 RECONCIL SEFA TO FIN. STATEMENTS
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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
.
Title: #5 DEMINIMIS INDIRECT COST RATE
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 the Uniform Guidance, wherein certain types of
expenditures are not allowable or are limited as to reimbursement. Negative amounts, if any, shown on
the Schedule represent adjustments or credits made in the normal course of business to amounts reported
as expenditures in prior years. The current year expenditures, in accordance with Uniform Guidance,
includes USDA loan balances for community facilities loans with continuing compliance requirements.
De Minimis Rate Used: N
Rate Explanation: ELECTED TO NOT USE DIMINIMIS COST RATE
The Fire Board did not elect to use the 10% de minimis indirect cost rate.