Notes to SEFA
Title: Noncash Federal Financial Assistance (Unaudited)
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance (theSchedule) includes the activity of all federal awards and state projects of the South Florida WaterManagement District (the District), a component unit of the State of Florida, for the year endedSeptember 30, 2022. All federal awards and state financial assistance received directly from federal andstate agencies, as well as federal and state awards passed through other government agencies areincluded in the accompanying Schedule. The information in this schedule is presented in accordance withthe requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance) andChapter 10.550, Rules of the Auditor General. Because the Schedule presents only a selected portion ofthe operations of the District, it is not intended to and does not present the financial position, changes innet position or cash flows of the District. The District's reporting entity is described in Note 1 to thefinancial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
In accordance with various cost sharing projects the District has entered into with the U.S. Army Corps ofEngineers (ACOE), a portion of the project is funded and performed by the ACOE and is considered to benoncash federal financial assistance to the District. However, since the amount is provided by the ACOEand cannot be verified by the District, it has not been subjected to audit as part of the District's federalawards under the Uniform Guidance and the Federal Single Audit Act. The amount of noncash federalfinancial assistance received by the District, as reported by the ACOE was $2,658,836 for fiscal yearended September 30, 2022.
Title: Summary of Significant Accounting Policies
Accounting Policies: The accompanying schedule of expenditures of federal awards and state financial assistance (theSchedule) includes the activity of all federal awards and state projects of the South Florida WaterManagement District (the District), a component unit of the State of Florida, for the year endedSeptember 30, 2022. All federal awards and state financial assistance received directly from federal andstate agencies, as well as federal and state awards passed through other government agencies areincluded in the accompanying Schedule. The information in this schedule is presented in accordance withthe requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform AdministrativeRequirements, Cost Principles and Audit Requirements for Federal Awards (Uniform Guidance) andChapter 10.550, Rules of the Auditor General. Because the Schedule presents only a selected portion ofthe operations of the District, it is not intended to and does not present the financial position, changes innet position or cash flows of the District. The District's reporting entity is described in Note 1 to thefinancial statements.
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported in the Schedule are reported using the modified accrual basis of accounting for grants which are accounted for in the governmental fund types. Such amounts are reported following the cost principles in the Uniform Guidance and State Projects Compliance Supplement, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements