Notes to SEFA
Title: Note A - Basis of Presentation
Accounting Policies: Accrual basis of accounting; pass through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: None necessary
The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the Shasta Community Services District (the District) under programs of the federal government for the fiscal year ended June 30, 2024. The information in this Schedule is presented in accordance with the audit 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 net position or changes in net position of the District.
Title: Note B - Summary of Significant Accounting Policies
Accounting Policies: Accrual basis of accounting; pass through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: None necessary
1. Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in OMB Circular A-87, Cost Principles for State, Local, and Indian Tribal Governments, when applicable, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Also, when applicable, recognition is following the Uniform Guidance for federal awards granted after December 26, 2014.
2. Pass-through entity identifying numbers are presented where available.
Title: Note C - Subrecipients
Accounting Policies: Accrual basis of accounting; pass through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: None necessary
Of the federal expenditures presented in the schedule, the District provided $0.00 of the federal awards to subrecipients.
Title: Note D - Indirect Cost Rate
Accounting Policies: Accrual basis of accounting; pass through entity identifying numbers are presented where available.
De Minimis Rate Used: N
Rate Explanation: None necessary
The City did not elect to use the 15% de Minimis indirect cost rate on the federal awards presented in this schedule.