Notes to SEFA
Title: Scope of Presentation
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
The accompanying Schedule of Expenditures of Federal Awards (Schedule) presents theactivity of all federal financial assistance programs of the Groundwater Banking Joint Powers
Authority (GBJPA) under programs of the federal government for the year ended June 30, 2024. All financial assistance received directly from federal agencies is included in the
accompanying Schedule. The information in the 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). The GBJPA did not use the 10% de minimis indirect cost rate as covered in section 200.414 of the Uniform Guidance.
Title: Basis of Accounting
Accounting Policies: GAAP
De Minimis Rate Used: N
Rate Explanation: The auditee did not use the de minimis cost rate.
Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards wherein certain types of expenditures are not allowable or are limited as to reimbursement. Pass-through entity identifying numbers are presented where available.