Notes to SEFA
Title: BASIS OF PRESENTATION
Accounting Policies: CASH BASIS
De Minimis Rate Used: N
Rate Explanation: SEE NOTES
The accompanying Schedule of Expenditures of Federal Awards (the “Schedule”) includes the federal award activity of the Cape Girardeau County Reorganized Common Sewer District under programs of the federal government for the year ended June 30, 2024 (the “District”). The information in this Schedule is presented 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 District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the District.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: CASH BASIS
De Minimis Rate Used: N
Rate Explanation: SEE NOTES
Expenditures reported on the Schedule are reported on the cash basis of accounting, which is a comprehensive basis of accounting other than accounting principles generally accepted in the United States of America. The cash basis recognizes revenue when received, and expenditures are recognized when the obligation is paid. Such expenditures are recognized following the cost principles contained in the Uniform Guidance and OMB Circular A-87, Cost Principles for State, Local and Indian Tribal Governments, wherein certain types of expenditures are not allowable or are limited as to reimbursement.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: CASH BASIS
De Minimis Rate Used: N
Rate Explanation: SEE NOTES
The District has elected to not use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
Title: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Accounting Policies: CASH BASIS
De Minimis Rate Used: N
Rate Explanation: SEE NOTES
There were no federal expenditures during the year ended June 30, 2024 that the District passed-through to subrecipients.
Title: GRANT PROGRAM
Accounting Policies: CASH BASIS
De Minimis Rate Used: N
Rate Explanation: SEE NOTES
The District is receiving reimbursements from a grant program under the Water and Waste Disposal Systems for Rural Communities program (CFDA #10.760). The total balance authorized under the grant program is $12,974,000.00
Title: GRANT PROGRAM
Accounting Policies: CASH BASIS
De Minimis Rate Used: N
Rate Explanation: SEE NOTES
Remaining available funds: $0.