Notes to SEFA
Title: BASIS OF PRESENTATOIN
Accounting Policies: Schedule is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: No indirect cost rate used
The schedule is presented using the modified accrual basis of acounting.
Title: DE MINIMIS INDIRECT COST RATE
Accounting Policies: Schedule is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: No indirect cost rate used
The Marshall County Board of Public Utilities has elected to not use the 10-percent de minimis indirect cost rate allowed under the Uniform Guidance.
Title: SUBRECIPIENTS
Accounting Policies: Schedule is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: No indirect cost rate used
The Marshall County Board of Public Utilities did not have any funds passed through to subrecipients.
Title: UNITED STATES DEPARTMENT OF AGRICULTURE LOANS
Accounting Policies: Schedule is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: No indirect cost rate used
At June 30, 2024, there was an outstanding balance of $3,312,302 on loans obtained through the United State Department of Agriculture. Payments during the year totaled $34,698.
Title: RECONCILIATION FROM SEFA TO FINANCIAL STATEMENTS
Accounting Policies: Schedule is presented using the modified accrual basis of accounting.
De Minimis Rate Used: N
Rate Explanation: No indirect cost rate used
See the Notes to the SEFA for chart/table