Notes to SEFA
Title: Basis of Presentation
Accounting Policies: Basis of Accounting: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, Cost Principles of Non-profit Organizations, and state regulations, wherein certain types of expenditures are not allowable or are limited to reimbursement. Pass-through entity identifying numbers are presented where available. Revenue Reconciliation: Federal and state awards programs are reported in RCAWDB’s financial statements as follows:
Public Support: Federal and State Governmental Grants $ 50,225,340
Total Expenditures of Federal and State Awards $ 50,225,340
De Minimis Rate Used: N
Rate Explanation: RCAWDB has not elected to use the 10 percent de minimis indirect cost rate as allowed under the Uniform Guidance.
The accompanying schedule of expenditures of federal and state awards (the“Schedule”) includes federal and state grant activity of RCAWDB under programs of the federal and state government for the year ended September 30, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance) and the State of Texas Single Audit
Circular. Because the Schedule presents only a selected portion of the operations of RCAWDB, it is not intended to and does not present the financial position, changes in net assets, or cash flows of RCAWDB.